$700 Billion Bailout Explained....

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  1. #1

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    $700 Billion Bailout Explained....


  2. #2

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    Interesting how The Daily Show with Stewart is morphing from pure comedy to being a force improving the average guy's understanding of big issues with some comedy tossed in. Stewart is getting better with this politicians although he doesn't hide his views.

    I thought Tony Blair's interview with Stewart and his reasons for fighting in Iraq made Blair look weak, ineffectual and downright naive.

    Not bad show with Bill Clinton starting off with some funny stuff about the pies and $700 billion.

    Bill Clinton Praises Barack Obama on The Daily Show | Indecision2008 | Comedy Central

    Some good issues here from the bail out to Barack and the economy.

    He defends AIG bailout as a profit making venture.

    A longer show is the Sept 22 shows with Bill Clinton on David Letterman. Letterman just lets him go at the topics.

    Part 1 talks of Clinton's Global Initiative for the first 5 min and then right onto the bail out and what is happening/happened in housing, etc since the tech bubble burst. It carries to Part 2. I watched these last night for nearly 25 min.


  3. #3

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    >> Stewart is morphing from pure comedy to being a force improving the
    >> average guy's understanding of big issues with some comedy tossed
    >> in

    He's a welcome dose of reality while all the networks are busy spinning their political views into news.


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  5. #5

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    I actually think that letter might work better for Paulson than going down on knees.

    Wild day, no deal - David Rogers - Politico.com

    The former Goldman Sachs CEO even went down on one knee as if genuflecting, to which Speaker Nancy Pelosi (D-Cal.) is said to have joked, “I didn’t know you were Catholic.”

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  7. #7

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    Quote Originally Posted by Football16:
    A longer show is the Sept 22 shows with Bill Clinton on David Letterman. Letterman just lets him go at the topics.

    Great suggestion as it's a very interesting interview. Nice to see that Letterman can make time for a serious talk.

  8. #8

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    I think this is still the main details of the rescue package:



    Democrats got many concessions in bailout - Economy in Turmoil - MSNBC.com



    Following are the major details of the $700 billion rescue package that congressional negotiators approved on Sunday:

    — Provides up to $700 billion, starting with an initial $250 billion, to allow the Treasury Department to purchase troubled assets, mainly in the area of mortgages, that are weighing down the U.S. financial system.

    — Gives the Treasury Department, working with experts chosen by the government, the authority to fashion the asset purchase program. Treasury officials have suggested that a key approach will be the use of "reverse auctions" in which financial firms who succeed in selling their assets to the government will be the ones willing to take a lower price than other bidders.

    — Restrictions will be imposed on the pay and benefits received by executives whose companies are selling some of their bad assets through the government's purchase program.

    — The Treasury would be required to provide details of its purchases within two days of the transactions and various oversight boards would be created to monitor the operation of the program.

    — Taxpayers would be given ownership stakes in companies whose bad assets are purchased. After five years, if the government is facing a loss in the program, the president will be required to submit a plan recommending how the money can be recouped from financial companies.

    — Establishes a program whereby banks could buy government insurance that would cover the principal and interest on certain troubled assets, rather than selling them outright. Premiums will vary depending on the assets' risk profile.


  9. #9

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    That was shocking, sobering and downright scary.


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    Lets see what gems she comes up with in the debates next week.


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