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Lets Hang Together or We Will Surely Hang Apart!

Archive for October, 2008

Fed Starts to Bailout Commercial Assets

Posted in October 7th, 2008
by hallslug in Economy, Politics, Rich People

The Federal Reserve Takes Unprecedented Steps to Bailout Businesses.
WASHINGTON (AP) - Frantically trying to stop the bleeding on Wall Street, the Federal Reserve took a first-time step Tuesday to get cash directly to businesses and hinted that interest rates could come down soon.
Stocks continued their free fall anyway and hit new five-year lows.The central [...]

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Bailout is Just the Beginning

Posted in October 4th, 2008
by hallslug in Economy, Housing Crisis, Politics, Rich People

Dems and Republicans Screwed the Middle Class Good

Bailout type
Cost to taxpayers (Source: Reuters)

Financial bailout package approved this week
up to or more than $700 billion

Bear Stearns financing
$29 billion

Fannie Mae and Freddie Mac nationalization
$200 billion

AIG loan and nationalization
$85 billion

Federal Housing Administration housing rescue bill
$300 billion

Mortgage community grants
$4 billion

JPMorgan Chase repayments
$87 billion

Loans to banks via Fed’s Term Auction [...]

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90 Year Old Woman Attempts Suicide During Foreclosure

Posted in October 4th, 2008
by hallslug in Economy, Housing Crisis, Mortgage Meltdown

90 Year Old Ohio Woman Attempts Suicide as Sheriffs Attempt to Evict Her
CINCINNATI (Reuters) - A 90-year-old Ohio woman, facing eviction from the home she has lived in for 38 years, shot and wounded herself this week, becoming a grim symbol of the U.S. home mortgage crisis.
Addie Polk was found lying on the floor of [...]

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