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#924614 --- 11/25/08 11:51 AM Lets just keep making it worse.
NYTwinsFan Offline
Senior Member

Registered: 03/27/08
Posts: 1405
Loc: Valiente Corazones Fantasma
Will they ever get a clue ???

Play Video Video: Paulson defends bailout plan Reuters Play Video Video: Pauslon on the Rescue Plan CNBC Related Quotes Symbol Price Change
^DJI 8,390.66 -52.73
^GSPC 847.73 -4.08
^IXIC 1,447.79 -24.23

WASHINGTON (Reuters) The Federal Reserve threw a massive life-line to consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards.

Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie Mac and the Federal Home Loan Banks. It will also buy up to $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae.

The central bank also launched a $200 billion facility to support consumer finance, including student, auto, and credit card loans and loans backed by the federal Small Business Administration. This will lend to investors who hold securities backed by this debt.

The launch of the two programs lifted investor spirits and drove up the blue chip Dow Jones industrial average more than 100 points, or about 1.3 percent, within minutes of its open.

"One of the big problems we have is that there has been a lack of demand for debt. You have seen the market for securitized debt such as credit cards or student loans dry up completely," said Scott Brown, chief economist at Raymond James & Associates in St. Petersburg, Florida
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#925483 --- 11/25/08 09:18 PM Re: Lets just keep making it worse. [Re: NYTwinsFan]
Bing Bong Offline
Senior Member

Registered: 05/12/08
Posts: 2482
Loc: the road to hell
Hey, come on, we need easy credit so we can buy the things we NEED: wide-screen HDTVs, leaf blowers, expensive haircuts... And Christmas is coming! I think I'll buy myself a speedboat so I can go fishing once or twice a year. I mean, heck, if you can't get yourself something nice once in a while, what's Christmas all about?
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#925726 --- 11/26/08 07:54 AM Re: Lets just keep making it worse. [Re: Bing Bong]
Teacher73 Offline
Senior Member

Registered: 04/21/00
Posts: 1918
Loc: Seneca Falls, NY, Seneca
Originally Posted By: Bing Bong
Hey, come on, we need easy credit so we can buy the things we NEED: wide-screen HDTVs, leaf blowers, expensive haircuts... And Christmas is coming! I think I'll buy myself a speedboat so I can go fishing once or twice a year. I mean, heck, if you can't get yourself something nice once in a while, what's Christmas all about?


That's the spirit! Unrepentant, overarching, and complete self gratification all in reverance to consumerism! Screw the kid's future let's buy a snow mobile. Who needs to discover the true meaning of Christmas when we can immerse ourselves in MORE STUFF!

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#926465 --- 11/27/08 06:38 PM Re: Lets just keep making it worse. [Re: Bing Bong]
VM Smith Offline
Diamond Member

Registered: 11/28/05
Posts: 38160
Loc: Ship of Fools
Originally Posted By: Bing Bong
Hey, come on, we need easy credit so we can buy the things we NEED: wide-screen HDTVs, leaf blowers, expensive haircuts... And Christmas is coming! I think I'll buy myself a speedboat so I can go fishing once or twice a year. I mean, heck, if you can't get yourself something nice once in a while, what's Christmas all about?


Geez...It's so hard to get myself into the Christmas mood this year, and I've tried almost everything......maybe I should get one of those anal probe attachments for my 1/2" Dewalt variable speed hammer drill.....
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#926499 --- 11/27/08 08:10 PM Re: Lets just keep making it worse. [Re: VM Smith]
SkySoldier Offline
Diamond Member

Registered: 08/18/01
Posts: 25300
Loc: Finger Lakes National Forest, ...
Jingle bells
shot gun shells
bee bee's all the way ;-)



What priest want for Christmas
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America has problems.

We can fix that.

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#926506 --- 11/27/08 08:17 PM Re: Lets just keep making it worse. [Re: SkySoldier]
VM Smith Offline
Diamond Member

Registered: 11/28/05
Posts: 38160
Loc: Ship of Fools
ROTFLMAO!
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#926508 --- 11/27/08 08:18 PM Re: Lets just keep making it worse. [Re: SkySoldier]
Gio Offline
Gold Member

Registered: 08/01/03
Posts: 16476
Loc: Cleveland
?
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#926511 --- 11/27/08 08:23 PM Re: Lets just keep making it worse. [Re: Gio]
VM Smith Offline
Diamond Member

Registered: 11/28/05
Posts: 38160
Loc: Ship of Fools
It doesn't have to be relevant, Gio; remember that cartoons send out massive waves of healing energy.
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#926520 --- 11/27/08 08:34 PM Re: Lets just keep making it worse. [Re: VM Smith]
SkySoldier Offline
Diamond Member

Registered: 08/18/01
Posts: 25300
Loc: Finger Lakes National Forest, ...
Originally Posted By: VM Smith
It doesn't have to be relevant, Gio; remember that cartoons send out massive waves of healing energy.


Yuppers.


24 / 7 too. ;-) I feel better already.
_________________________
America has problems.

We can fix that.

America is not THE problem.

Next time. Vote for the AMERICAN.


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#926522 --- 11/27/08 08:36 PM Re: Lets just keep making it worse. [Re: SkySoldier]
Gio Offline
Gold Member

Registered: 08/01/03
Posts: 16476
Loc: Cleveland
ahhh...
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