So far up we're up to $8.5 trillion and they want another trillion?

[Xicano]

WTF? I guess they mean to make us into slaves.

:argh:

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/26/MNVN14C8QR.DTL


The federal government committed an additional $800 billion to two new loan programs on Tuesday, bringing its cumulative commitment to financial rescue initiatives to a staggering $8.5 trillion, according to Bloomberg News.

-snip-

Most of the money, about $5.5 trillion, comes from the Federal Reserve, which as an independent entity does not need congressional approval to lend money to banks or, in "unusual and exigent circumstances," to other financial institutions.

To stimulate lending, the Fed said on Tuesday it will purchase up to $600 billion in mortgage debt issued or backed by Fannie Mae, Freddie Mac and government housing agencies. It also will lend up to $200 billion to holders of securities backed by consumer and small-business loans. All but $20 billion of that $800 billion represents new commitments, a Fed spokeswoman said.

[Greyhound]

1. We already are. The question is whether we will continue to allow it?

It is our money, it is our authority, it is our future.

We have a failed financial system, a system that is not owned by us but by a cartel. We are being required to prop up this system at the cost of our future and those that brought this are being asked to bear none of the costs but will keep all the profit.

They wrote and passed the legislation that allowed the price of housing to be artificially inflated for their profits and now that the bottom has fallen out, we are paying to finance those false valuations and all the extended leveraging based on those fraudulent valuations.

So far it appears that we will let this happen, out of fear.