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Bush Bust Dominos keep Falling

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Anonymous

Guest
Bair: Bank Failures Ahead 10 Times Worse

Thursday, July 16, 2009 2:40 PM

By: Greg Brown

FDIC Chairman Sheila Bair is predicting that the bank failure rate will increase tenfold, according to a U.S. Senator.

Bair said up to 500 more banks could fail, Sen. Jim Bunning, R-Ky, said in a meeting, reported Dow Jones Newswires.

That would put the current crisis close to the level achieved during the late-1980s savings and loan crisis, when 745 thrifts were shut.

"She told us that unless something dramatic happens, we could lose up to 500 more banks," Bunning said.

"That means that people who make mortgages in local places .... people that could really help in a foreclosure will not be there," Bunning said.

Regulators recently shut down the Bank of Wyoming on Friday, the 53rd failure this year.
 
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Anonymous

Guest
http://moneynews.newsmax.com/streettalk/bair_bank_failures/2009/07/16/236524.html
 

Sandhusker

Well-known member
There won't be any more bank failures. Obama has got this wonderful stimulus going that is going to right the economy and make everything just a patch of daisies and daffodils. He said so himself, and he's the messiah.
 

Twister Frost

Well-known member
Personally, I liked the story in the upper right corner from Mangru! I guess I don't worry about my small town bank--they have some "transparency"!!
 

Mike

Well-known member
Didn't someone once say that if the Stimulus Bill was not passed immediately, that unemployment would go as high as 8%?
 

MsSage

Well-known member
unemploymentchart.jpg


http://michaelscomments.wordpress.c...ojection-and-a-dire-warning-of-posts-to-come/


Friday, June 19, 2009 | Modified: Monday, June 22, 2009
N.C. unemployment rises to 11.1%
Charlotte Business Journal
 

Mike

Well-known member
Do any of ya'll remember OT and Frankie bragging about all the infrastructure contained in the Stimulus Bill, only to find out it was no more than a normal Federal Highway Budget?
:lol: :lol: :lol: :lol:
 

Ben H

Well-known member
In response to the title, we have a little thing in this country called "Separation of Powers." Blame Bush all you want, but you have to give equal blame to the congress.

What actions did Bush take to cause this that Obama and Biden as Senators voted against?
 
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Anonymous

Guest
Ben H said:
In response to the title, we have a little thing in this country called "Separation of Powers." Blame Bush all you want, but you have to give equal blame to the congress.

What actions did Bush take to cause this that Obama and Biden as Senators voted against?

Or the 12 of the last 14 years of a Repub controlled Congress- 8 of which GW played them like puppets-- who backslapped him just like the cultist followers on here did......

The Buck Stops Here
Harry S Truman
 

Sandhusker

Well-known member
Well, OT, now you've got Obama in office and a huge majority backslapping him, just taking his word on legislation and not even reading it - and the programs he and his sheep are putting in are failing miserably.

This porkulus is ALL OBAMA'S, and it's NOT WORKING, IT'S BACKFIRING. It's doing so poorly, you libs are backtracking on what was said then, stuttering and stammering, and making all kinds of lame excuses like "we had incomplete information" :roll:

And here you are, a full-fledged Obamazombie cult captain, still guzzling the koolaid........
 
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Anonymous

Guest
Sandhusker said:
Well, OT, now you've got Obama in office and a huge majority backslapping him, just taking his word on legislation and not even reading it - and the programs he and his sheep are putting in are failing miserably.

The Jobs/Stimulus bill is not even 6 months into what is a 2 year plan...Many of the local jobs just started because of weather- others are held up because the factories can't get geared up fast enough to make the steel needed....
You don't just go from a country on the brink of oblivion (where Bush had taken us) to a full blown booming economy overnight.....
Talk to me about it 2 years down the line....
 

TexasBred

Well-known member
Oldtimer said:
Sandhusker said:
Well, OT, now you've got Obama in office and a huge majority backslapping him, just taking his word on legislation and not even reading it - and the programs he and his sheep are putting in are failing miserably.

The Jobs/Stimulus bill is not even 6 months into what is a 2 year plan...Many of the local jobs just started because of weather- others are held up because the factories can't get geared up fast enough to make the steel needed....
You don't just go from a country on the brink of oblivion (where Bush had taken us) to a full blown booming economy overnight.....
Talk to me about it 2 years down the line....

Two year plan yet all the qualifying projects were suppose to be "shovel ready".....talk to me when unemployment reaches 4.5%....

[quote]"She told us that unless something dramatic happens, we could lose up to 500 more banks," Bunning said.

"That means that people who make mortgages in local places .... people that could really help in a foreclosure will not be there," Bunning said.
[/quote]

Now..how the hell do bankers help in a forclosure?? They are the ones doing the foreclosing". Nobody has ever lost a penny in an insured bank that was shut down for whatever reason.
 

Sandhusker

Well-known member
Oldtimer said:
Sandhusker said:
Well, OT, now you've got Obama in office and a huge majority backslapping him, just taking his word on legislation and not even reading it - and the programs he and his sheep are putting in are failing miserably.

The Jobs/Stimulus bill is not even 6 months into what is a 2 year plan...Many of the local jobs just started because of weather- others are held up because the factories can't get geared up fast enough to make the steel needed....
You don't just go from a country on the brink of oblivion (where Bush had taken us) to a full blown booming economy overnight.....
Talk to me about it 2 years down the line....

I knew you would offer the excuse dujour of the liberals now. :lol: When this "stimulus" as it was falsely labeled was introduced, was it presented as a 2-year plan?
 
A

Anonymous

Guest
Banks are self insured thru FDIC...FDIC will just guarantee the solvency on qualified funds and sell the banks to someone that can run them......
 

Mike

Well-known member
Sandhusker said:
Oldtimer said:
Sandhusker said:
Well, OT, now you've got Obama in office and a huge majority backslapping him, just taking his word on legislation and not even reading it - and the programs he and his sheep are putting in are failing miserably.

The Jobs/Stimulus bill is not even 6 months into what is a 2 year plan...Many of the local jobs just started because of weather- others are held up because the factories can't get geared up fast enough to make the steel needed....
You don't just go from a country on the brink of oblivion (where Bush had taken us) to a full blown booming economy overnight.....
Talk to me about it 2 years down the line....

I knew you would offer the excuse dujour of the liberals now. :lol: When this "stimulus" as it was falsely labeled was introduced, was it presented as a 2-year plan?

The Stimulus was nothing but a "Social Spending Plan" that the Dems dreamed up:
In states, stimulus aid favors social programs
Remember the "shovel-ready" projects lined up for all that stimulus money? It turns out social spending, more than construction, is hitting pay dirt in the huge federal effort to turn the economy around.

By JUDY LIN

Associated Press Writer

SACRAMENTO, Calif. —
Remember the "shovel-ready" projects lined up for all that stimulus money? It turns out social spending, more than construction, is hitting pay dirt in the huge federal effort to turn the economy around.

The public face of the stimulus package has been the worker in a hard hat, getting back on the job to rebuild the nation's infrastructure.

Earlier this spring, for example, California Gov. Arnold Schwarzenegger appeared before the cameras at a job site along a freeway east of San Francisco. He declared that the stimulus-financed project would provide paychecks for 235 construction workers who otherwise would have to "stand in the unemployment line."

The reality of how the vast majority of the stimulus money will be spent is quite different, and that raises questions about how much help the Recovery Act achieved by President Barack Obama will be to the economy in the long run.

Most of the roughly $300 billion coming directly to the states is being funneled through existing government programs for health care, education, unemployment benefits, food stamps and other social services.

"We all talked about 'shovel-ready' since September and assumed it was a whole lot of paving and building when, in fact, that's not the case," said Chris Whatley, the Washington director of the Council of State Governments, a trade group for state governments. He estimates states will get three times more money for education than for transportation.

Two-thirds of recovery money that flows directly to states will go toward health care.

By comparison, about 15 percent of the money is for transportation, including airports, highways and rail projects, according to Federal Funds Information for States, a service of the National Governors Association and the National Conference of State Legislatures.

Overall, two-thirds of the stimulus program will go toward tax cuts, relief for state budgets and direct payments to the unemployed and others hurt by the recession, part of the administration's desire to provide immediate fiscal relief. Much smaller pieces of the pie will be allocated for weatherization, affordable housing and other projects designed to create jobs.

John Husing, a Southern California economist, said keeping teachers and police officers employed should help prevent the recession from getting worse. But he said the stimulus package would have improved communities' ability to grow over the long haul if it had dedicated more money to public works.
 

hypocritexposer

Well-known member
Obama on video discussing how soon the stimulus plan is/was supposed to start working.

http://www.freedomslighthouse.com/2009/07/new-gop-ad-obama-vs-obama-on-stimulus.html
 

TexasBred

Well-known member
Oldtimer said:
Banks are self insured thru FDIC...FDIC will just guarantee the solvency on qualified funds and sell the banks to someone that can run them......

FDIC insures "deposits"....deposits are sold to another bank....loans are also sold to other banks...some at discounted prices if necessary.... However, none of the "banks being closed" has a damn thing to do one way or the other with the folks being foreclosed....those banks no longer exist.
 
A

Anonymous

Guest
TexasBred said:
Oldtimer said:
Banks are self insured thru FDIC...FDIC will just guarantee the solvency on qualified funds and sell the banks to someone that can run them......

FDIC insures "deposits"....deposits are sold to another bank....loans are also sold to other banks...some at discounted prices if necessary.... However, none of the "banks being closed" has a damn thing to do one way or the other with the folks being foreclosed....those banks no longer exist.

Most so far have had their assets sold- and reopened again within days under a new name/ownership...
 
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