Where does it stop? FDIC requesting $

[AWL71 0]

Now the FDIC is asking for a $150 Billion dollar cash infusion to help with collapsing banks. These bailouts are a slippery slope and every day it seems other enities have their hands out. I say no to the bailouts. The correction will be painful but a correction needs to take place.

The most terrifying words in the English language are: I'm from the government and I'm here to help.

[lawrocket 3]

Why is the FDIC undercapitalized? It is a government program.

Did the government follow private industry's lead or vice versa?

My wife is hotter than your wife.

[AWL71 0]

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Why is the FDIC undercapitalized? It is a government program.

Did the government follow private industry's lead or vice versa?

"It won't take many more failures before the FDIC itself runs out of money. The agency had $45.2 billion in its coffers as of June 30, far short of the $200 billion Whalen says it will need to pay claims by the end of next year. The U.S. Treasury will almost certainly come to the rescue."

Source: Bloomberg.com

In this case the government is having to clean up the mess created by the greed of Wall Street and no qualification mortgages.

The most terrifying words in the English language are: I'm from the government and I'm here to help.

[SkyDekker 1,150]

Didn't Bush urge banks to extend more credit to prospective home owners who really did not qualify?

[kallend 1,675]

Borrow from the Chinese - AGAIN.

I don't know why taxpayers are objecting to these bailouts, the GOP way is to borrow the money and cut taxes to buy votes.

We've already borrowed what, $1.6 Trillion from China to maintain our lifestyle and pay for Bush's war.

...

The only sure way to survive a canopy collision is not to have one.

[jcd11235 0]

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Why is the FDIC undercapitalized?

Sounds like the Fed set the reserve too low.

Math tutoring available. Only $6! per hour! First lesson: Factorials!

[akarunway 1]

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Now the FDIC is asking for a $150 Billion dollar cash infusion to help with collapsing banks. These bailouts are a slippery slope and every day it seems other enities have their hands out. I say no to the bailouts. The correction will be painful but a correction needs to take place.

Why stop the printing presses while they are running perfectly well. If it ain't broke don't fix it. And you know it costs more to restart something once you turn it off.

I hold it true, whate'er befall;
I feel it, when I sorrow most;
'Tis better to have loved and lost
Than never to have loved at all.

[lummy 4]

I'll have to try to find the article I read to confirm this. If I remember correctly, the article had mentioned the reason FDIC was underfunded was due to having to bail out some banks earlier in the year. A bank in Illinois that failed last spring comes to mind.

I promise not to TP Davis under canopy.. I promise not to TP Davis under canopy.. eat sushi, get smoochieTTK#1

[akarunway 1]

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I'll have to try to find the article I read to confirm this. If I remember correctly, the article had mentioned the reason FDIC was underfunded was due to having to bail out some banks earlier in the year. A bank in Illinois that failed last spring comes to mind.

Here is the list for 08. http://www.fdic.gov/bank/historical/bank/index.html I sure don't see Illinois in there but I do see Az. if that the point you are trying to make.

I hold it true, whate'er befall;
I feel it, when I sorrow most;
'Tis better to have loved and lost
Than never to have loved at all.

[AWL71 0]

Quote

Borrow from the Chinese - AGAIN.

I don't know why taxpayers are objecting to these bailouts, the GOP way is to borrow the money and cut taxes to buy votes.

We've already borrowed what, $1.6 Trillion from China to maintain our lifestyle and pay for Bush's war.

I also heard on the radio that even the Chinese are getting leary of loaning us money. That is a bad sign if even the Chinese are cutting us off.

The most terrifying words in the English language are: I'm from the government and I'm here to help.

[Casurf1978 0]

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We've already borrowed what, $1.6 Trillion from China to maintain our lifestyle and pay for Bush's war.

It's so easy for the right wingers to pull out and give a carte blanche to Bush for this war which if I recall was going to cost between 60B and 80B and now it's well over 600B. But when our economy in on the brink of one of the worst financial crisis since the Great Depression and when it needs government help they bitch about it. What's going on right now in Wall Street is not a market correction, there are serious problems that need to be addressed and this bailout in necessary. Cant they get that through their heads.

[ChasingBlueSky 0]

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Now the FDIC is asking for a $150 Billion dollar cash infusion to help with collapsing banks. These bailouts are a slippery slope and every day it seems other enities have their hands out. I say no to the bailouts. The correction will be painful but a correction needs to take place.

They were asking for this money before the current bailout began FYI.

Also, Congress gave $25B to automakers today as well to help them out. Now, remind me again why United Airlines couldn't get a $1B loan after 9/11?

_________________________________________
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I WILL fly again.....

[lummy 4]

IndyMac was the bank I was thinking of. I wasn't trying to make a point about any particular state

I promise not to TP Davis under canopy.. I promise not to TP Davis under canopy.. eat sushi, get smoochieTTK#1