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Old 10-04-2008, 06:57 PM
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stompk stompk is offline
I work for God
 
Join Date: Jan 2008
Location: In the valley
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Default Re: $367 bil per day borrowed by banks.

Quote:
The 700 billion dollar bail-out hasn't even been passed yet, but you're saying it's already being dispersed to the banks and has been for the past week or so.

Exactly. If the banks are still in trouble, after being able to borrow $trillions from the lending window, why do we even need the $700 billion bailout (w/ pork)

The truth is, it's not about money. It's about powers being awarded to the executive branch.

Quote:
Consider the parallels between the economic crisis and the terrorism crisis. After 9/11 we were told by Bush that there was no doubt that Saddam Hussein had weapons of mass destruction and if we did not act immediately the consequences could be catastrophic. Trust me, he insisted, and many of us did. Last week he insisted that the American economy stood on the brink of disaster and that if we did not act immediately, the consequences would be catastrophic. Trust me, he insisted. Then he proposed that Paulson be given total unaccountable power to do whatever he wanted with a trillion dollars of taxpayers’ money.
Dictator Bush’s great illusion is exposed | Andrew Sullivan - Times Online
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