Fed Extends Emergency Wall Street Loans

[Lyric]

http://www.msnbc.msn.com/id/25930426/

To hell with all that noise. Let the billionaires pay their own damned debt, and increase federal student aid funding (especially the Pell Grant) with that money instead. Fuck Wall Street. Loan some low-interest cash to the folks who are struggling to make impossible mortgage payments, or who have lost jobs, or are about to have their only car repossessed.

Corporate welfare pisses me off.

[NightWatcher]

1. the Fed is trying to delay the collapse till Obama is sworn in.

I think Feb 09 is gonna be a bitch. I will have three months of food on hand by then

[SpiralHawk]

4. Ding ding ding ding. We have a winner.

Gigadittoes, Nightwatcher. And that's also why gas prices are going down. For a few more months.

How conveeeenient!

[The2ndWheel]

6. The Fed is trying to delay the collapse.

Until tomorrow, next week, next January, or January of 2629. The machine doesn't care who runs it, as long as it keeps running. It is trying to survive for its own sake. Hell, if Obama actually brings more people into it, it'll survive a little longer.

[enough]

2. Also, even crazier, the Fed will allow them to swap risky investments for Treasuries.

snip from the same article>

Another program, where investment firms can temporarily swap more risky investments for super-safe Treasury securities also will continue through Jan. 30, the Fed said. And, it also will let commercial banks, in a separate program, bid on cash loans that last longer — for 84 days, besides the 28-day loans now available.

snip>

Doesn't this mean the taxpayer is taking on the risky investments?

[indepat]

3. Now, now, privatizing profits for the unscrupulous and socializing their losses are as American as

apple pie et al. :P

[zbdent]

5. sure ... Joe Sixpack believes Bush & Repukes about Social Security and invests his

life savings in the stock market ... about 30K. Market goes south ...

"So long, SUCKER!!!"

Frederick C. Billionaire III invests a cool million, essentially .05 percent of his wealth, and is in danger of losing it ...

"Red alert! Red alert! Shields up! Prepare emergency measures! Millionaires and Billionaires first!"