Bill Seeks to Let Federal Deposit Insurance Borrow up to $500 Billion

2009-03-07 01:34:00

#1

blademaster: I'm moving to Brazil; +2,075|6948

Senate Banking Committee Chairman Christopher Dodd is moving to allow the Federal Deposit Insurance Corp. to temporarily borrow as much as $500 billion from the Treasury Department.

Damn wonder who else is gonna want the next $500 billion check, bf2s ought to request one hehehe

source

2009-03-07 02:48:48

#2

Flecco: iPod is broken.; +1,048|6968|NT, like Mick Dundee

I want one.

Might ask the UK. They've started rattling off the bank bills by the bucket.

Whoa... Can't believe these forums are still kicking.

2009-03-07 10:25:05

#3

rdx-fx: ...; +955|6894

If these jackasses weren't able to run a fiscally responsible operation these last few years, and now require a massive bailout to fix themselves..
.. how in the hell are they going to run an even tighter operation to allow for payback of these massive loans?

There are real functional issues with our current system. I'm seeing alot of money being thrown around rather freely, but I'm not seeing any real plans to fix the problems that led to this mess.

(Problems: stockholder driven corporations, profiteer speculators, price divorced from value, bloated bureaucratic inefficiency, flimsy non-durable goods, style over substance, entitlement over responsibility, and the general baby-boomer "me, me, me" generation)

2009-03-07 10:34:09

#4

ATG: Banned; +5,233|6832|Global Command

This is one of the last crumbly steps before the edge of the cliff.

If fdic goes belly up the whole banking system is done. And it has to go belly up. Banks are beginning to fall like dominoes.

2009-03-07 10:34:49

#5

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|6952|Washington DC

If the FDIC is having liquidity problems, why did they raise their account protection from $100,000 to $250,000?

Are idiots running EVERYTHING these days?

That last statement was rhetoric, by the way.

2009-03-07 10:36:16

#6

ATG: Banned; +5,233|6832|Global Command

OrangeHound wrote:
If the FDIC is having liquidity problems, why did they raise their account protection from $100,000 to $250,000?

Are idiots running EVERYTHING these days?

Yes.

The raise in account protection was to avert a run on deposits.

The question is, who's going to bailout the bailouters?

2009-03-07 10:51:15

#7

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|6952|Washington DC

ATG wrote:
OrangeHound wrote:
If the FDIC is having liquidity problems, why did they raise their account protection from $100,000 to $250,000?

Are idiots running EVERYTHING these days?
Yes.

The raise in account protection was to avert a run on deposits.

They didn't need to do this for this reason ... as far as I know, that only happened because a bunch of ignorant West Coasters did that to IndyMac.

The bank I used failed (quite a large one), and there wasn't a run on the bank.

The FDIC limit was raised as a political effort, because a bunch of politicians bent to a few dozen whiners who complained that they lost money in a couple of bank failures. Seriously ... this nation is full of nothing but a bunch of no-balls panzies who can't take a punch. They spend all their money on crap products they don't need, live in McMansion houses they can't afford, and eat so much food that they end up with diabetes.

Are you not ready for the digital TV conversion after 6 years? Poor baby ... here, let me extend the deadline for 3 months, give you a free converter and have it installed by a G-man. Because, Lord knows, you HAVE to have your TV.

Are you upset because McDonalds ran out of McNuggets? We're so sorry ... here's a team of lawyers who will sue the left-nut off of Ronald McDonald. And then they'll sue the 911 operators who refused to send out the SWAT team to rescue you from the evil McDonalds.

Are you upset because you lost a quarter million in a Trump luxury penthouse? More lawyers.

Holy smoking crap. America, grow some balls. The US is full of panzies who can't stomach even the smallest setback. We are spoiled, fat, and lazy. Plain and simple.

2009-03-07 11:00:13

#8

nickb64: formerly from OC (it's EXACTLY like on tv)[truth]; +77|5914|Greatest Nation on Earth(USA)

ATG wrote:
OrangeHound wrote:
If the FDIC is having liquidity problems, why did they raise their account protection from $100,000 to $250,000?

Are idiots running EVERYTHING these days?
Yes.

The raise in account protection was to avert a run on deposits.

The question is, who's going to bailout the bailouters?

Option 1: Noboby
Option 2: Barack Obama(wait, that means we're screwed 'cause we already got no money 'cept what we get loaned to us)

We're fucked if FDIC/Government goes down.

2009-03-07 15:33:51

#9

Flecco: iPod is broken.; +1,048|6968|NT, like Mick Dundee

Print more money?

Whoa... Can't believe these forums are still kicking.

2009-03-07 15:36:16

#10

blademaster: I'm moving to Brazil; +2,075|6948

Flecco wrote:
Print more money?

haha yeah u cant just print more money, money is paper u can wipe ur ass with it if it has no value

2009-03-07 20:59:10

#11

nickb64: formerly from OC (it's EXACTLY like on tv)[truth]; +77|5914|Greatest Nation on Earth(USA)

Flecco wrote:
Print more money?

Bad fucking idea, that would just make us even more fucked with inflation.

2009-03-07 21:10:23

#12

AussieReaper: ( ͡° ͜ʖ ͡°); +5,761|6456|what

Flecco wrote:
Print more money?

Actually the US is more likely to borrow that money because if they print it the value of the dollar will drop. They can't afford more of that to happen.

The double edge of the sword though is they have already borrowed massive amounts of money from other countries.

2009-03-07 21:40:22

#13

Flecco: iPod is broken.; +1,048|6968|NT, like Mick Dundee

Was a joke guys. See here for why...

The Australian's article.

Just reminds me of the economic collapses in the 1920s/1930s.

Whoa... Can't believe these forums are still kicking.

BF2S Forums Bill Seeks to Let Federal Deposit Insurance Borrow up to $500 Billion

OrangeHound wrote:

ATG wrote:

OrangeHound wrote:

ATG wrote:

OrangeHound wrote:

Flecco wrote:

Flecco wrote:

Flecco wrote:

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