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Current Events & Hot Topics Current Events & Hot Topics

Fed Reserve to lend us $200 billion !

Posted by on Mar. 3, 2009 at 10:46 AM
  • 15 Replies

this sounded like some good news...

 

Fed launches new $200B consumer credit program

WASHINGTON – The Federal Reserve on Tuesday rolled out a much-awaited program aimed at boosting the availability of credit to consumers and small businesses.

The Fed will lend up to $200 billion to spur consumer lending — for autos, education, credit cards and other things. The bold program, dubbed the Term Asset-Backed Securities Loan Facility, was first announced late last year and originally scheduled to start in February.

Participants — companies and investors that pledge eligible collateral to back the loan — must request the new government loans by March 17. The Fed will provide the three-year loans on March 25.

...

Under the program, the Fed will buy securities backed by different types of debt including credit card, auto, student and small business loans. The credit crunch — the worst since the 1930s — has made it much more difficult for people to obtain such financing , and those that do can be socked with high rates.

 http://news.yahoo.com/s/ap/20090303/ap_on_bi_ge/fed_consumer_credit_8

by on Mar. 3, 2009 at 10:46 AM
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Replies (1-10):
Eilish
by on Mar. 3, 2009 at 11:24 AM

The Fed is a fraud! This is BAD news.


moneysaver6
by Gold Member on Mar. 3, 2009 at 11:34 AM

And what happens in 3 years when people can't pay that any more than they can pay their current mortgages, car loans, & credit cards? 

We'll have yet another crisis on our hands.  I'm sure the government will attempt to intervene in THAT crisis too.  However, they won't admit their folly in lending to people who do NOT need the money and cannot afford to pay it back.

This is BAD news.  People need to STOP borrowing and start paying cash NOT borrow more money...and from ME no less!

Absolutely NOT!

I'm already paying for a failing school system which we don't utilize, failed government programs that are overused and abused, and bailouts that I don't agee with and don't think should have been passed in the first place to help millionaires and billionaires who have more money than I could ever think of having (because I'm paying to rescue them).  I'm done!

Amy

Eilish
by on Mar. 3, 2009 at 11:46 AM

http://rlv.zcache.com/abolish_the_federal_reserve_bumper_sticker-p128649562901826893trl0_400.jpg


anxiousschk
by anxiouss on Mar. 3, 2009 at 12:01 PM

*Scratches head*

Why is this GOOD news? 

Where is this money coming from?  The magical US money tree? OH! Great news! All our money troubles are over now!!!

canthaveboys1
by on Mar. 3, 2009 at 12:04 PM

Good news, did I miss something? This may be enough to bailout gm a few more times! To hell with the other money troubles we have, everyone needs an overpriced car! 

Canthaveboys1
canthaveboys1
by on Mar. 3, 2009 at 12:05 PM


Quoting moneysaver6:

And what happens in 3 years when people can't pay that any more than they can pay their current mortgages, car loans, & credit cards? 

We'll have yet another crisis on our hands.  I'm sure the government will attempt to intervene in THAT crisis too.  However, they won't admit their folly in lending to people who do NOT need the money and cannot afford to pay it back.

This is BAD news.  People need to STOP borrowing and start paying cash NOT borrow more money...and from ME no less!

Absolutely NOT!

I'm already paying for a failing school system which we don't utilize, failed government programs that are overused and abused, and bailouts that I don't agee with and don't think should have been passed in the first place to help millionaires and billionaires who have more money than I could ever think of having (because I'm paying to rescue them).  I'm done!

Amy

clapping

Canthaveboys1
moneysaver6
by Gold Member on Mar. 3, 2009 at 12:07 PM

My thoughts exactly!

Amy

Quoting anxiousschk:

*Scratches head*

Why is this GOOD news? 

Where is this money coming from?  The magical US money tree? OH! Great news! All our money troubles are over now!!!


Eilish
by on Mar. 3, 2009 at 12:10 PM


Quoting anxiousschk:

*Scratches head*

Why is this GOOD news? 

Where is this money coming from?  The magical US money tree? OH! Great news! All our money troubles are over now!!!

Well paper comes from trees ... maybe we can blame the Federal Reserve for global warming.

moneysaver6
by Gold Member on Mar. 3, 2009 at 12:35 PM

Perhaps someone should tell the Fed that just because PAPER comes from trees doesn't mean that money is growing on those same trees.  I think perhaps they're confused.

Amy

Quoting Eilish:


Well paper comes from trees ... maybe we can blame the Federal Reserve for global warming.


Eilish
by on Mar. 3, 2009 at 1:00 PM

Are you kidding me? The FED knows exactly what its doing because they make money off of their "loaned" paper IOUs. They are forcing the collapse of our economy in order institute a global currency and have control of a much larger market.

Quoting moneysaver6:

Perhaps someone should tell the Fed that just because PAPER comes from trees doesn't mean that money is growing on those same trees. I think perhaps they're confused.

Amy

Quoting Eilish:



Well paper comes from trees ... maybe we can blame the Federal Reserve for global warming.



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