[BadKosh]

So the US bailed out more foreign investments/banks than they did in the US. This is why Bernanke was silent of who exactly got the bailout money (OUR TAX DOLLARS). The whole bailout was a bad idea, made worse by those who were trusted and stabbed the US in the back. Nice work Obama.


Foreign Banks Tapped Fed's Lifeline Most as Bernanke Kept Borrowers Secret - Bloomberg

[The Final Dakar]

Originally Posted by BadKosh 

Nice work Obama.

The dates listed in bold:

Bank of Scotland Plc, which had $11 billion outstanding from the discount window on Oct. 29, 2008, was a unit of Edinburgh-based HBOS Plc, which announced its takeover by London-based Lloyds TSB Group Plc in September 2008.

The borrowings in 2008 didn’t involve Lloyds, which hadn’t completed its acquisition of HBOS at the time, said Sara Evans, a spokeswoman for the company, which is now called Lloyds Banking Group Plc. (LLOY)

Other foreign discount-window borrowers on Oct. 29, 2008, included Societe Generale (GLE) SA, France’s second-biggest bank; and Norinchukin Bank, which finances and provides services to Japanese agricultural, fishing and forestry cooperatives. Paris- based Societe Generale borrowed $5 billion that day, and Tokyo- based Norinchukin borrowed $6 billion.

Bank of China, the country’s oldest bank, was the second- largest borrower from the Fed’s discount window during a nine- day period in August 2007 as subprime-mortgage defaults first roiled broader markets. The Chinese bank’s New York branch borrowed $198 million on Aug. 17 of that month.

Arab Banking Corp., then 29 percent-owned by the Libyan central bank, used its New York branch to get at least 73 loans from the Fed in the 18 months after Lehman Brothers Holdings Inc. collapsed. The largest single loan amount outstanding was $1.2 billion in July 2009, according to the Fed documents.

“Since the end of May 2010, Depfa is not making use of the Federal Reserve Discount Window,” Oliver Gruss, a spokesman for the bank, said in an e-mailed statement. He declined to comment further.

[OAW]

Originally Posted by The Final Dakar 

The dates listed in bold:

You don't expect BadKosh to let little things like facts get in the way of his knee-jerk anti-Obama opinions do you?

OAW

[hyteckit]

Forget the dates. The bank bailouts are Obama's fault.

[Uncle Skeleton]

We already know 0bama is a time-traveller. How else do you think he faked his own birth certificate?

[The Final Dakar]

Originally Posted by Uncle Skeleton 

We already know 0bama is a time-traveller. How else do you think he faked his own birth certificate?

I bet Obama is his own grandfather.

[Uncle Skeleton]

Originally Posted by The Final Dakar 

I bet Obama is his own grandfather.

That's unconstitutional

[The Final Dakar]

Originally Posted by Uncle Skeleton 

That's unconstitutional

I'm pretty sure it's just a loophole.

[BadKosh]

Obama and his flunkies (The Democrats who caused FREDDIE and FANNIE disasters) were already there to force Bush to do the first TARP, but the rest was on Obamas watch, and that is when the silence started. Pelosi and Reid were already there to portray the initial financial issues as far worse, and the press carried their water. Assuming that this was Bush deal and the Majority of Dems in both houses had no part in it is laughable.


Obama Official: GOP Budget Would Kill 70,000 Kids - FoxNews.com

And the lies and spin continues.

[The Final Dakar]

Originally Posted by BadKosh 

were already there to force Bush to do the first TARP

Got a source for that?

[SpaceMonkey]

Furthermore, the program being discussed in that article, the Discount Window, is not related to TARP. It's an existing instrument that has been available since 1913, designed to relieve liquidity strains in the banking system. And per the article, according to the Fed, "all the discount window loans made during the worst financial crisis since the 1930s have been repaid with interest."

[OAW]

Originally Posted by SpaceMonkey 

Furthermore, the program being discussed in that article, the Discount Window, is not related to TARP. It's an existing instrument that has been available since 1913, designed to relieve liquidity strains in the banking system. And per the article, according to the Fed, "all the discount window loans made during the worst financial crisis since the 1930s have been repaid with interest."

Stop making sense. You might confuse the man.

OAW

[BadKosh]

2009. Is that a good date?

Libya-Owned Bank Got 73 Loans From Fed Discount Window After Lehman Fell - Bloomberg

[OAW]

Apparently SpaceMonkey's post still has not registered with you. The Fed Discount Window has been available since 1913. President Obama wasn't even BORN then.

OAW

[The Final Dakar]

Originally Posted by BadKosh 

2009. Is that a good date?

Libya-Owned Bank Got 73 Loans From Fed Discount Window After Lehman Fell - Bloomberg

Yes, it's so good I already quoted it from the original article:

Originally Posted by The Final Dakar 

The dates listed in bold:

Arab Banking Corp., then 29 percent-owned by the Libyan central bank, used its New York branch to get at least 73 loans from the Fed in the 18 months after Lehman Brothers Holdings Inc. collapsed. The largest single loan amount outstanding was $1.2 billion in July 2009, according to the Fed documents.

[SpaceMonkey]

Originally Posted by OAW

Apparently SpaceMonkey's post still has not registered with you. The Fed Discount Window has been available since 1913. President Obama wasn't even BORN then.

No matter how long this particular tool has been available, it's obviously a worthwhile question whether it should be U.S. policy to make these loans to institutions that may provide some benefit to governments like Libya's. However, it's worth pointing out that under the sanctions and freeze in place on Libyan assets, the bank (which is based in Bahrain) is prohibited from making any transactions with the Libyan government.

[CreepDogg]

BadK0sh: There are plenty of valid criticisms that can be directed at President Obama. Why is it that you seek to fabricate inane ones and undermine your own credibility?

[OAW]

Originally Posted by SpaceMonkey 

No matter how long this particular tool has been available, it's obviously a worthwhile question whether it should be U.S. policy to make these loans to institutions that may provide some benefit to governments like Libya's. However, it's worth pointing out that under the sanctions and freeze in place on Libyan assets, the bank (which is based in Bahrain) is prohibited from making any transactions with the Libyan government.

Indeed. But one must bear in mind that in 2009 the Libyan government was an "ally" in the War on Terror. Libya was "back in the fold" so to speak since it had given up its WMD program, was keeping Al-Qaeda in check within its borders, and was preventing widespread African immigration to southern Europe. It was only when the protests began (which quickly turned into a tribal civil war) that it became a "government like Libya's." Oh yeah, and the number one source of foreign militants in Iraq and Afghanistan fighting US troops? From Eastern Libya. The rebels that the US and NATO are backing now. Go figure.

OAW

[Dork.]

The power of Obama's creeping socialism is so great that it can reach back in time to use his private army to force Bush to institute TARP. Since we have already established that he wasn't born in the US (in fact, he wasn't born at all), his life force reaches all the way back to 1913, when he established the socialist Discount Window to make all banks instruments of the State.

[OAW]

Originally Posted by CreepDogg 

BadK0sh: There are plenty of valid criticisms that can be directed at President Obama. Why is it that you seek to fabricate inane ones and undermine your own credibility?

Might I suggest ... Obama Derangement Syndrome?

OAW

[OldManMac]

Speaking of lies;

How Milton Friedman and Chicago Economics Undermined America | Common Dreams

The Republican’s Big Lies About Jobs (And Why Obama Must Repudiate Them) | Common Dreams

[BadKosh]

Originally Posted by OldManMac 

Speaking of lies;

How Milton Friedman and Chicago Economics Undermined America | Common Dreams

The Republican’s Big Lies About Jobs (And Why Obama Must Repudiate Them) | Common Dreams

Got anything but left-leaning OPINION PIECES?

[besson3c]

I love you BadKosh, please do not change!

[finboy]

Originally Posted by BadKosh 

Obama Official: GOP Budget Would Kill 70,000 Kids - FoxNews.com

This shouldn't surprise anyone. If anything's surprising, it's that the administration has to do it for themselves. Usually they just let their pals in the media cover these types of reports.

[OldManMac]

Originally Posted by BadKosh 

Got anything but left-leaning OPINION PIECES?

Got anything but right-leaning OPINION PIECES? I prefer to deal with the world the way it actually works, thanks.

[BadKosh]

So the Dems can control spending? No they can't. NFW! They are the problem, and their idiotic energy policies are ruining the country.

March Madness: U.S. Gov't Spent More Than Eight Times Its Monthly Revenue | CNSnews.com

[hyteckit]

Originally Posted by BadKosh 

So the Dems can control spending? No they can't. NFW! They are the problem, and their idiotic energy policies are ruining the country.

March Madness: U.S. Gov't Spent More Than Eight Times Its Monthly Revenue | CNSnews.com

Yeah? And in April, the Tax Revenue would be $1.5 trillion and the federal spending would be $200 billion. What's your point?

Unless you actually think our deficit is $1 trillion/mo? Are you saying we'll add another $12 trillion to our deficit this year?

[BadKosh]

What do you think? The energy costs keep going up which affects everything. The Democrats just can't stop spending, and can't find anything to cut in their bloated POS budget.

[OldManMac]

Originally Posted by BadKosh 

What do you think? The energy costs keep going up which affects everything. The Democrats just can't stop spending, and can't find anything to cut in their bloated POS budget.

You and your simplistic one line replies! If you had been paying attention, you would have noticed that it isn't only the Democrats, and if you knew anything about economics, you'd know that you can't grow a country on war spending, and that when your neighbor prospers you prosper. There's plenty of money around; it's just in the wrong places.

[BadKosh]

So you claim to have been paying attention while your god 0bama and the Senate Dems keep spending when we don't have the money. If you knew anything about economics you would have realized that Governments can't get you out of an economic downturn with spending. The POLICIES put forth by the 0bama admin have caused businesses to hold off hiring until they know how much those idiotic regulations will cost them. Face it, teh Democrats hosed up by putting incompetent sideliners into office and wasting too much money on the WORST WAYS to fix the countries problems. Biden is a dolt. 0bama is a lost cause, since he's not leading anymore, just running his mouth. That the Libs thought 0bama and company could do a great job just shows you how wrong they are about everything.

[besson3c]

BadK0sh: can't get you out of an economic downturn with spending, except for when this isn't the case? You realize that there are plenty of times in not only American history but global history where economic stimulus by way of spending has worked?

http://www.forbes.com/2009/02/12/sti..._bartlett.html

[Uncle Skeleton]

Originally Posted by besson3c 

You realize that there are plenty of times in not only American history but global history where economic stimulus by way of spending has worked

I have often tried to get people to name these many examples, and never succeeded. I can't draw any conclusion from the Great Depression, because it is obscured by the fact that America was the only industrial power left standing after WW2. So if you please, what are a few other examples of economic stimulus defeating a depression or recession, where it didn't have the annihilation of all competing world powers as a trump card?

[OldManMac]

Originally Posted by BadKosh 

So you claim to have been paying attention while your god 0bama and the Senate Dems keep spending when we don't have the money.

As I've already said, there is plenty of money. It's just tied up in useless wars, and is sitting in corporate coffers, with corporate profits being at all time highs.

If you knew anything about economics you would have realized that Governments can't get you out of an economic downturn with spending.

Nonsense. What do you think built this country after WWII, when corporate taxes were much higher than they are now? Here's something to help you learn a little history. It's clear to me why you believe what you do, as you obviously are either very young and know nothing about history, or you don't care to learn anything other than what your handlers feed you.

The Republican’s Big Lies About Jobs (And Why Obama Must Repudiate Them) | Common Dreams

The POLICIES put forth by the 0bama admin have caused businesses to hold off hiring until they know how much those idiotic regulations will cost them.

Once again, unsubstantiated nonsense. Corporate profits are just fine, and the top layers of executives are getting richer daily. There's plenty of money to hire people; they just want to keep it to themselves, and you're obviously gullible enough to fall for being a shill.

Face it, teh Democrats hosed up by putting incompetent sideliners into office and wasting too much money on the WORST WAYS to fix the countries problems. Biden is a dolt. 0bama is a lost cause, since he's not leading anymore, just running his mouth. That the Libs thought 0bama and company could do a great job just shows you how wrong they are about everything.

Obama's been in office two years, and the (not teh, as someone who thinks they're cool would spell it) runaway spending brought on by a Republican is conveniently overlooked (or perhaps not even known about, as you seem to have a glaring deficiency in history).

Obama is not my god; FTR I don't think he's progressive enough. We need to get out of wars we have no business being in, and fixing our own numerous problems, including educating our citizens on history and what actually works.

[besson3c]

Originally Posted by Uncle Skeleton 

I have often tried to get people to name these many examples, and never succeeded. I can't draw any conclusion from the Great Depression, because it is obscured by the fact that America was the only industrial power left standing after WW2. So if you please, what are a few other examples of economic stimulus defeating a depression or recession, where it didn't have the annihilation of all competing world powers as a trump card?

You don't have to look past this last/current depression, I don't think. Many countries opted for a stimulus package, Canada was one of them.

I don't know whether these tactics worked, and I don't know whether the reason for them working on the heels of the new deal related to other variables such as the ones you cited, but my point was that these are accepted tactics, and to claim that stimulus spending in an attempt to create jobs does not or never has helped is at least worthy of an argument.

That being said, in a globalized post-industrial era economy I can't fully wrap my head around how increased spending increases domestic jobs.

[Uncle Skeleton]

Originally Posted by besson3c 

You don't have to look past this last/current depression, I don't think. Many countries opted for a stimulus package, Canada was one of them.

It can't be known whether it "worked" until after it's over. Because the metric everyone uses is GDP, and government spending is a part of GDP(!). Spending doesn't just correlate to higher GDP, it constitutes higher GDP. It's like if you were asking whether CPR had worked by measuring the patient's chest movement. The real question isn't whether the patient's chest expands while you're blowing air into it, it's whether they keep doing that after you stop.

So do you know of any stimulus success stories that weren't (a) obscured by global conquest or (b) still happening currently?

[besson3c]

Originally Posted by Uncle Skeleton 

It can't be known whether it "worked" until after it's over. Because the metric everyone uses is GDP, and government spending is a part of GDP(!). Spending doesn't just correlate to higher GDP, it constitutes higher GDP. It's like if you were asking whether CPR had worked by measuring the patient's chest movement. The real question isn't whether the patient's chest expands while you're blowing air into it, it's whether they keep doing that after you stop.

So do you know of any stimulus success stories that weren't (a) obscured by global conquest or (b) still happening currently?

The rationale behind a stimulus can't be known either, that is, what the effects of doing nothing would have had on an economy. Therefore, I don't think you'll ever find a smoking gun sort of success story. However, *if* you buy into the idea that increased spending can increase jobs and therefore soften the blows of a recession, maybe the best metric is simply how quickly the government can pay off the debts accrued during this period?

[Uncle Skeleton]

Neither is a bad metric, but my point is that neither is a real-time metric. Either way you have to wait until the finish to find out if it worked. Which is why I asked and am still asking for any success stories that weren't (a) obscured by global conquest or (b) still happening. Use whatever metric you like. I always ask for these examples, and I never get any. If you can't come up with any, then you really shouldn't be using a chiding tone to say there are plenty of them.

[Dork.]

Originally Posted by BadKosh 

So you claim to have been paying attention while your god 0bama

You mean this guy?

[besson3c]

Originally Posted by Uncle Skeleton 

Neither is a bad metric, but my point is that neither is a real-time metric. Either way you have to wait until the finish to find out if it worked. Which is why I asked and am still asking for any success stories that weren't (a) obscured by global conquest or (b) still happening. Use whatever metric you like. I always ask for these examples, and I never get any. If you can't come up with any, then you really shouldn't be using a chiding tone to say there are plenty of them.

I'm not sure why war is a disqualifier. Haven't many major recessions/depressions come on the heels of war or a major disaster?

[Uncle Skeleton]

War in general isn't a disqualifier, but in the case of WW2 specifically it just so happened to leave every single industrial power in the world in shambles; all but one, that is. I guess that's why they called it a "world war."

Look even if you don't believe me about that, just humor me. You said "plenty," not me. If that's true, then please just give one example that is neither currently ongoing nor during WW2. Please.

[besson3c]

Originally Posted by Uncle Skeleton 

War in general isn't a disqualifier, but in the case of WW2 specifically it just so happened to leave every single industrial power in the world in shambles; all but one, that is. I guess that's why they called it a "world war."

Look even if you don't believe me about that, just humor me. You said "plenty," not me. If that's true, then please just give one example that is neither currently ongoing nor during WW2. Please.

I don't understand why those qualifiers need to be there, but how about the Savings and Loan and Long Term Capital Management crises? This is limiting the list to US specific historical economic failures.

[BadKosh]

Originally Posted by OldManMac 

Obama's been in office two years, and the (not teh, as someone who thinks they're cool would spell it) runaway spending brought on by a Republican is conveniently overlooked (or perhaps not even known about, as you seem to have a glaring deficiency in history).

Obama is not my god; FTR I don't think he's progressive enough. We need to get out of wars we have no business being in, and fixing our own numerous problems, including educating our citizens on history and what actually works.

You have not been paying attention. 2007 ther DEMS took control of congress and started spending and mismanaging as much as they could. They blamed Bush like parrots. They have continued to spend far in excess as to what money was actually available. Obama and his radicals have financially ruined this country. Reid and Pelosi are to blame. Where were the regulators? Snooping porn or playing computer games. Obama has allowed foreign oil firms to drill but not US ones. He is out to ruin the country.

[Mrjinglesusa]

Originally Posted by BadKosh 

You have not been paying attention. 2007 ther DEMS took control of congress and started spending and mismanaging as much as they could. They blamed Bush like parrots. They have continued to spend far in excess as to what money was actually available. Obama and his radicals have financially ruined this country. Reid and Pelosi are to blame. Where were the regulators? Snooping porn or playing computer games. Obama has allowed foreign oil firms to drill but not US ones. He is out to ruin the country.

[besson3c]

Anybody want to place bets on how long the "Democrats = bad/evil/ruining everything, Republicans = mankind's hope" BadK0sh narrative will continue?

[CreepDogg]

When you spend all your focus on one team, it's easy to miss that the whole game is rigged.

[smacintush]

Originally Posted by BadKosh 

You have not been paying attention. 2007 ther DEMS took control of congress and started spending and mismanaging as much as they could. They blamed Bush like parrots.

You seem to forget whose policies caused the economic problem in the first place.

Originally Posted by George W. Bush

We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home.

I'm not saying that the Dems wouldn't have done anything any better, but the housing bubble that started all of this was encouraged by Bush and the Republicans' policies.

They have continued to spend far in excess as to what money was actually available. Obama and his radicals have financially ruined this country.

They have only expanded and elaborated on the same failed and corrupt policies that we have gotten from the right and left for years.

Obama has allowed foreign oil firms to drill but not US ones. He is out to ruin the country.

Where was the "oil man" GWB and the GOP on drilling for oil? They sat on their hands for years and accomplished nothing, then blamed the Democrats.

[smacintush]

All the Obama administration has done is highlight just how few fundamental differences there are between the right and the left in this country. It's a matter of a few specific details and a few differences in scale. That's about it.

[besson3c]

Originally Posted by CreepDogg 

When you spend all your focus on one team, it's easy to miss that the whole game is rigged.

Dems and Libs!

[OldManMac]

Originally Posted by BadKosh 

You have not been paying attention. 2007 ther DEMS took control of congress and started spending and mismanaging as much as they could. They blamed Bush like parrots. They have continued to spend far in excess as to what money was actually available. Obama and his radicals have financially ruined this country. Reid and Pelosi are to blame. Where were the regulators? Snooping porn or playing computer games. Obama has allowed foreign oil firms to drill but not US ones. He is out to ruin the country.

I have to give you credit; you continue to find ways to make yourself look foolish.

[BadKosh]

Originally Posted by smacintush 

You seem to forget whose policies caused the economic problem in the first place.

That was during Jimmy Carters term. Its in the congressional record. They ramped it up during Clintons admin.

Originally Posted by smacintush 

I'm not saying that the Dems wouldn't have done anything any better, but the housing bubble that started all of this was encouraged by Bush and the Republicans' policies.

But it was DEMOCRATIC policies that opened the door to what has become toxic assets. FANNIE and FREDDIE both loaned tons of bucks to losers. The Banking committees looked the other way -Again during the Democrats watch.

Originally Posted by smacintush 

They have only expanded and elaborated on the same failed and corrupt policies that we have gotten from the right and left for years.

Except the record shows folks like McCain speaking on the Senate floor in '07 warning the democrat 'leadership' about their policies. This was all covered before.

Originally Posted by smacintush 

Where was the "oil man" GWB and the GOP on drilling for oil? They sat on their hands for years and accomplished nothing, then blamed the Democrats.

And when Bush signed a bill ending the off-shore drilling moratorium, which caused gas prices to fall, Pelosi decided the house should go on vacation so the gas prices didn't go as low as they could.