Set Honor TO ZERO, and let Duty be a value less than zero....
The government is planning to buy stakes in a wide range of banks within weeks as the credit freeze increasingly threatens to tip the U.S. economy into a deep recession.Hum....
Treasury Secretary Henry Paulson and top aides are still considering options on how the purchases would work, including having the government acquire preferred stock, two officials informed of the matter said.
The move would be a shift in emphasis in Paulson's original intention for the $700 billion bailout package passed by Congress last week. While the Treasury still aims to buy troubled mortgage-backed securities from financial institutions, a direct capital injection would offer more immediate relief.
[ cf U.S. Treasury May Buy Stakes in Banks Within Weeks (Update1) ]
Stocks fluctuated Thursday as Wall Street weighed the prospects for the economy after IBM Corp. affirmed its profit forecast and investors hoped the government might take ownership stakes in banks to help stabilize the financial industry.Now if ONLY the Evil Liberal Media would do it's patriotic DUTY and positvely report the positive news!!!
But declines in some blue chip names like General Motors Corp. weighed on the markets and hurt the Dow Jones industrial average. Broader market gauges were mixed.
Investors looked to recover from near-panic selling that cascaded through global markets in the past week. Stocks around the world moved mostly higher one day after the Federal Reserve and other leading central banks cut interest rates to help unclog the credit markets and stimulate the global economy.
[ cf Stocks fluctuate as economic worries dog investors ]
Last month (Sept. 16, 2008) the American taxpayers bailed out insurance giant American International Group (AIG) to the tune of $85 billion dollars. So, asked "what ya' goin' do now after the bailout?" top executives said "party it up at the St. Regis Resort Monarch Beach (Dana Point, CA) for a week (September 22 - 30, 2008).Once again the wailing of those who are clearly not willing to support the President To Support The Troops!!!!
Total costs? Invoice: $443,343.71. "$200,000 dollars for hotel rooms. Almost $150,000 for catered banquets. AIG spent $23,000 at the hotel spa and another $1,400 at the salon." Said Rep. Elijah Cummings (D-MD): "They were getting manicures, facials, pedicures and massages while American people were footing the bill. And they spent another $10,000 dollars for I don’t know what this is, leisure dining. Bars?"
[ cf Screw Disneyland. We're Going to the St. Regis Resort Monarch Beach! ]
Power Shopping Defeats The Enemy!!!!Anything less and the terrorists win...