This is very strange

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belladevine -> This is very strange (5/9/2010 7:59:00 PM)
http://news.yahoo.com/s/ap/eu_europe_financial_crisis http://news.yahoo.com/s/ap/20100510/ap_on_bi_ge/us_europe_financial_crisis_fed Both of these articles appear on the same day. Who do you think is now bailing out Europe?

Fellow -> RE: This is very strange (5/9/2010 9:44:30 PM)
It is not bailing out Europe but bailing out large US financial institutions. US major banks have hundreds of billions exposure in these countries that are about to default (Greece, Ireland, Portugal, Spain, Italy and others in risk).

Marini -> RE: This is very strange (5/9/2010 9:53:11 PM)
quote: ORIGINAL: Fellow It is not bailing out Europe but bailing out large US financial institutions. US major banks have hundreds of billions exposure in these countries that are about to default (Greece, Ireland, Portugal, Spain, Italy and others in risk). Got to love the global market place.

belladevine -> RE: This is very strange (5/9/2010 10:01:16 PM)
Yes, and after we are done bailing out the failing European institutions and the failed US institutions who is going to bail US out? Fannie and Freddie are crying that they didn't recieve enough money on the last bail out and they want a few billion more too. The trillions of dollars that are floating in economic cyber space do not actually exist. I am not a math matician but someting tells me there is going to be a point where the debt must be liquidated. Do you think it is gonna start raining money anytime soon?

popeye1250 -> RE: This is very strange (5/9/2010 10:12:36 PM)
What I don't understand is why is the Euro worth $1.27? All this mess should have it down to .60 cents U.S. Here we go again, "keeping wealthy people wealthy!"

belladevine -> RE: This is very strange (5/9/2010 10:20:58 PM)
Do you remember the big sucking sound that Ross Perrot talked about? It doesn't sound like any Americans are going to get a hard on from it. Ross Perrot's financial scenario at the time was based on relatively conservative sucking practices. As it turns out there are some seriously greedy pricks out there that just can't get enough and they are gonna suck your eyeballs out!!!

popeye1250 -> RE: This is very strange (5/9/2010 10:38:28 PM)
Belladevine, I can't come up with an argument against that. Isn't Obama supposed to be looking out for the U.S.?

Elisabella -> RE: This is very strange (5/10/2010 1:04:06 AM)
Wow. This is really kind of scary. Do you think you people could focus a bit less on "omg taxpayer socialism blah blah blah" and focus a bit more on "holy shit the EU economy is THIS FUCKING CLOSE to completely crashing and if it does it's going to take the rest of us down with it" Maybe? Is that too much to ask?

DomYngBlk -> RE: This is very strange (5/10/2010 3:47:23 AM)
I'd agree Elisabella. The bigger problem is what the austerity measures employed throughout the EU is going to do to local economies. Knock-on effects of that will be felt around the globe with consequent results

kanina -> RE: This is very strange (5/10/2010 5:08:34 AM)
I'm from Portugal, Europe, and the government is taking mesures, to avoid that the crisis in Greece affects Portugal... The crisis in Portugal was expected no surprise there, the surprise to me, came from Greece, i had no idea that the economy was so so bad, from what i heard the tax evasion is huge, nothing compared to Portugal...

tazzygirl -> RE: This is very strange (5/10/2010 6:08:18 AM)
~FR TARP repayment... The Troubled Asset Relief Program, commonly referred to as TARP or RCP, is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector. It is the largest component of the government's measures in 2008 to address the subprime mortgage crisis. Originally expected to cost the U.S. Government $356 billion, the most recent estimates of the cost, as of April 12, 2010, is down to $89 billion, which is 42% less than the taxpayers' cost of the Savings and loan crisis of the late 1980s.[1] The cost of that crisis amounted to 3.2% of GDP during the Reagan/Bush era, while the GDP percentage of the current crisis' cost is estimated at less than 1%.[2] While it was once feared the government would be holding companies like GM, AIG and Citigroup for several years, those companies are preparing to buy back the Treasury's stake and emerge from TARP within a year.[3] Of the $245 billion invested in U.S. banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010. AIG is considered "on track" to pay back $51 billion from divestitures of two units and another $32 billion in securities.[3] In March 2010, GM repaid more than $2 billion to the U.S. and Canadian governments and on April 21 GM announced the entire loan portion of the U.S. and Canadian governments' investments had been paid back in full, with interest, for a total of $8.1 billion.[4] http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program the most recent estimates of the cost, as of April 12, 2010, is down to $89 billion, which is 42% less than the taxpayers' cost of the Savings and loan crisis of the late 1980s.[1] Of the $245 billion invested in U.S. banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010. Just thought i would point out a few things. [:D]

flcouple2009 -> RE: This is very strange (5/10/2010 6:35:56 AM)
Tazzy, Nice try girl but please remember we have several posters who never let facts get in the way of their rants. Two of them have posted on this thread already.

tazzygirl -> RE: This is very strange (5/10/2010 5:27:52 PM)
~grins i know, but i gotta try [;)]

DCWoody -> RE: This is very strange (5/10/2010 7:11:00 PM)
No nation in the Eurozone is or was going to default. The actions today are not a bailout (free money), they're just eurozone nations agreeing officially (and starting to) lend money to each other....at what's not really very cheap interest for govt loans, but lower than greece was paying (and portugal now knows that it can always start to borrow at that rate too, although AFAIK the open market's still better for them)...and wouldn't usually have been lent when all govts are struggling with deficits. I do know that Darling essentially told them it isn't our problem, we're not on the Euro so we're not offering any cash....which I'm pleased about. tl;dr it's not a bailout, it's just a loan....and it's a loan from other eurozone nations to greece (and potentially others if they need it, but they probably won't).

servantforuse -> RE: This is very strange (5/10/2010 7:22:03 PM)
US taxpayers are the ones who bailed out Greece with the rest of Europe to follow soon. The money we just gave them will never be repayed.

DCWoody -> RE: This is very strange (5/10/2010 7:25:12 PM)
Do you not read? The US has not given Greece any money whatsoever you......american.

servantforuse -> RE: This is very strange (5/10/2010 7:35:28 PM)
Not true. Greece recieved 110 billion. 80 billion came from other European countries, 30 billion came from the IMF of which we contribute to. That is taxpayer money from the US.

belladevine -> RE: This is very strange (5/10/2010 8:14:50 PM)
Hey people, don't forget....the EU is too big to fail. That is why the Feds opened up a free flowing line of credit to them. No worries for my little aussie friend elisabella. Americans are big fat pack mules, we love to carry the world burden.

Brain -> RE: This is very strange (5/10/2010 8:47:38 PM)
It is in America's interests to have Europe succeed because Europe is an important export market to the United States. quote: ORIGINAL: servantforuse US taxpayers are the ones who bailed out Greece with the rest of Europe to follow soon. The money we just gave them will never be repayed.

belladevine -> RE: This is very strange (5/10/2010 8:55:24 PM)
That is a very nice idea....exporting stuff to europe. We don't manufacture anything that the europeans want, except food. We are going to be like mexican workers in our own fields feeding europe, and the rest of the world. Most of the Europeans don't even want us anymore. Europe used to welcome American tourist, now you are lucky not to get spit on. Most of the world hates us because of our relationship with Israel and our war mongering mentality.

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