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In article d9fc8181-02a6-4362-bbb5-91376274b147
@j4g2000yqe.googlegroups.com, says...

On Nov 7, 2:34*pm, Jim wrote:
All businesses had trouble surviving the Bush years. *Wanna argue?
Bailouts. *Obama was responsible for the bailouts? *You need a calendar.
* Bush gave billions to big business with NO accountability.

I remember a couple of economic stimulus checks coming my way in the
Bush years. *I thought they were a mistake. *Stimulus and bailouts were
not created by Obama, but he's stuck with Bush's legacy.

But all the people who get their info from the equilavant of information
gated communities (Fox News, Glenn Beck and O'Reilly) blame Obama for
stimulus bills and bailouts.

Come on righties, make a good case for the charges you make, or don't
make them.

Please note the DATE on the article below:

Bush's Bailouts: $1.8 TRILLION and Counting
September 22, 2008

Here's the current cost of Bush's Bailouts, courtesy of Reuters. Of
course we're far from seeing the end of Bush's bailouts...

A $1.8 Trillion Bailout: Where the Money's Going
The U.S. Treasury Department is working through the weekend with
Congress to craft a plan to spend as much as $700 billion to absorb bad
mortgages and other assets from bank or other institution balance sheets
to keep the financial system from collapsing.
The move comes close on the heels of an $85 billion Federal Reserve
rescue of American International Group and the Treasury's takeover of
housing finance firms Fannie Mae and Freddie Mac.
The Treasury plan, which follows a new federal guarantee for money
market fund holdings, would push Washington's potential bailout tab to
$1.8 trillion.

Following are details of actions, proposals and amounts:
?Up to $700 billion to buy assets from struggling institutions. The plan
is aimed at sopping up residential and commercial mortgages from
financial institutions but gives Treasury broad latitude.
?Up to $50 billion from the Great Depression-era Exchange Stabilization
Fund to guarantee principal in money market mutual funds to provide the
same confidence that consumers have in federally insured bank deposits.
?The Fed committed to make unspecified discount window loans to
financial institutions to finance the purchase of assets from money
market funds to aid redemptions.
?At least $10 billion in Treasury direct purchases of mortgage-backed
securities in September. In doubling the program on Friday, the Treasury
said it may purchase even more in the months ahead.
?Up to $144 billion in additional MBS purchases by Fannie Mae and
Freddie Mac.The Treasury announced they would increase purchases up to
the newly expanded investment portfolio limits of $850 billion each. On
July 30, the Fannie portfolio stood at $758.1 billion with Freddie's at
$798.2 billion.
?$85 billion loan for AIG, which would give the Federal government a
79.9 percent stake and avoid a bankruptcy filing for the embattled
insurer. AIG management will be dismissed.
?At least $87 billion in repayments to JPMorgan Chasefor providing
financing to underpin trades with units of bankrupt investment bank
Lehman Brothers. Paulson said over the weekend he was adamant that
public funds not be used to rescue the firm.
?$200 billion for Fannie Mae and Freddie Mac. The Treasury will inject
up to $100 billion into each institution by purchasing preferred stock
to shore up their capital as needed. The deal puts the two housing
finance firms under government control.
?$300 billion for the Federal Housing Administration to refinance
failing mortgage into new, reduced-principal loans with a federal
guarantee, passed as part of a broad housing rescue bill.
?$4 billion in grants to local communities to help them buy and repair
homes abandoned due to mortgage foreclosures.
?$29 billion in financing for JPMorgan Chase's government-brokered
buyout of Bear Stearns in March. The Fed agreed to take $30 billion in
questionable Bear assets as collateral, making JPMorgan liable for the
first $1 billion in losses, while agreeing to shoulder any further losses.
?At least $200 billion of currently outstanding loans to banks issued
through the Fed's Term Auction Facility, which was recently expanded to
allow for longer loans of 84 days alongside the previous 28-day credits.

Nothing like being dead wrong in your first sentence. My business was
booming in Bush's years and all the businesses I sold to and bought
from were doing very well. Is there any reason to read the rest?

Really, our business did fine during the Bush years, even after loosing
a full 30% of our gross in the first 6 months after 9-11.. It was
started during the Clinton years, but the bubble burst set us back some
too. Not sure how it's going to go for the next few years, haven't seen
much drop off yet, but our customers are mostly information retailers
and that has not been shipped over seas yet. We also contract out
support to several peers so we are somewhat diversified... I think we
should be OK for a while anyway...

--
Wafa free again.

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