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Changing the rules of the game

Posted by cij on Dec 16th, 2008

Next year, the US government needs to borrow US$1.5 trillion to pay for its expenditure. Up till the end of November 2008, $4.16 trillions worth of spending programs were endorsed by the US government to bail out Wall Street and stimulate Main Street. There are rumours that the upcoming President Obama will sign in a [...]

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The car industry, six billion dollars and another blunder.

Posted by Greg Atkinson on Nov 13th, 2008

Well done Kevin Rudd, just weeks after causing chaos in the financial markets with his bank deposit guarantee, he has been able to pull another blunder out of his magic hat and found a way to potentially waste six billion dollars of Australian taxpayers money. Let’s be totally clear from the start here, the bailout [...]

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The Bailout Fails

Posted by admin on Sep 30th, 2008

The bailout was back - for about 24 hours or so. But last night the US House of Representatives voted against socialising its financial crisis. The score was 205 for, 228 against. Despite Hank Paulson’s confidence, all those foot-notes added to the bailout over the weekend came to nothing.
And now we have a serious panic. [...]

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America - The Bailout Nation

Posted by andyfvp on Sep 25th, 2008

To save the economic and financial future of America, the US government is taking over the financial system by changing the rules and becoming the backstop for all the junk in the current financial system. While this may save them in the near term I think it is going to put America in a big [...]

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