Glen Beck said this would happen

Avatar for jbgattuso
iVillage Member
Registered: 04-29-2003
Glen Beck said this would happen
15
Tue, 08-10-2010 - 6:53pm

Wow, I know so many of you detest Beck and I think he is over the top at times BUT....he said this would happen over and over and the Administration said they would NOT do this.


Wow, just wow.


http://finance.yahoo.com/news/Fed-Citing-Slowdown-to-Buy-US-nytimes-2936632095.html?x=0&.v=1

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Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
Wed, 08-11-2010 - 3:52am
That is quite scary. I can see, however, why they felt there was no choice. The question is what happens if they can't sell all those T-bills.

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Men can only be happy when they do not assume that the object of life is happiness.
– George Orwell
iVillage Member
Registered: 09-08-2006
Wed, 08-11-2010 - 9:56am

It's not just the US that is facing economic crisis due to the volatile

 

iVillage Member
Registered: 01-04-2002
Wed, 08-11-2010 - 11:07am
I apologize for my ignorance but could someone explain what this means exactly - that is, what the implications are?
iVillage Member
Registered: 09-08-2006
Wed, 08-11-2010 - 11:15am

Basically the implication is our markets are a mess.

 

iVillage Member
Registered: 01-04-2002
Wed, 08-11-2010 - 11:19am
Thank you!
iVillage Member
Registered: 09-08-2006
Wed, 08-11-2010 - 11:21am
I forgot to welcome you to the board.

 

Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
Wed, 08-11-2010 - 12:15pm
Basically the government just took over 1.25 trillion worth of bad debt. The government issues T-bills to cover it. If they can sell those T-bills, to the Chinese and the Arabs, that money will be used to cover the bad debt. However, that is an awful lot of T-bills and the government is paying off debt owed on stuff that is worthless.

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Men can only be happy when they do not assume that the object of life is happiness.
– George Orwell
iVillage Member
Registered: 04-09-2007
Wed, 08-11-2010 - 12:27pm
Is it our government debt, or is it the "toxic assets" of other private entities?
Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
Wed, 08-11-2010 - 12:29pm
The way I understood it, the government is taking over a giant load of toxic derivatives. Perhaps I misunderstood, but I don't think so.

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Men can only be happy when they do not assume that the object of life is happiness.
– George Orwell
iVillage Member
Registered: 04-09-2007
Wed, 08-11-2010 - 12:49pm

I only read a few paragraphs of an article yesterday, but that's what I thought too - that we were buying up more "toxic assets".


Does anyone know - did the financial reform bill finally regulate derivatives?

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