i heard on bob kincaids show that the feds pumped

[blues90]

$630 billion into wall street and went right around the house. What the hell is that all about?

[seemslikeadream]

1. damn what's going on?

[seemslikeadream]

2. It is this

http://bloomberg.com/apps/news?pid=20601087&sid=a9MTZEgukPLY&refer=home

"Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.

The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed's emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.

The Fed's expansion of liquidity, the biggest since credit markets seized up last year, came hours before the U.S. House of Representatives rejected a $700 billion bailout for the financial industry. The crisis is reverberating through the global economy, causing stocks to plunge and forcing European governments to rescue four banks over the past two days alone."

[blues90]

5. yes that's the one . so what is the bailout now ?

It's all just complete smoke and mirrors and through the looking glass.

Why don't they just admit it and get it over with.

[seemslikeadream]

3. Now let's think about this folks.

http://market-ticker.denninger.net/archives/595-Bernanke-PROVED-Paulson-Plan-Bankrupt.html

The Fed threw $630 billion into the market before the vote, and yet the S&P 500 was down 40 handles anyway, and in fact tanked after the vote.

Note carefully - Paulson's plan was $700 billion, and Bernanke spent $630 billion - almost the entire amount proposed - but failed to fix the problem.

Got it?

Good.

Now do you see what I've been saying?

We were about to piss $700 billion into a tornado and lose it forever.

[magellan]

4. Occasionally I wish I could rec replies

This is one of those times. You nailed it.

Here's a for you.

[soothsayer]

6. Not the feds (our gov), but the Fed (the private bank that lends the US money)