MONEY GONE HERE,THERE AND NOWHERE
(b) Vice-President Joe Biden has made the comment that there is a 30 per cent chance that the bailout will not work.
(c) Congress has not addressed the remaining 350 billion dollars that was the balance of the original bailout.
(d) Congress is presently working on another bailout (SPENDING BILL as per President Obama) which could be anywhere from 800 billion dollars to 1.2 trillion dollars. If it ends up as 1.2 trillion dollars does that mean that 460 billion dollars will also be unaccounted for which will be 30 per cent.
(e) The new Secretary of the Treasury, Geitner, was asked a question by an Senator as to how he intends to finance the plan that the Department of the Treasury is coming out with, which could be about 2 trillion dollars, and, is another plan besides the one the President wants passed He commented that the American people will invest in his plan. If most American people are having a hard time how can this be possible.
(f) Yesterday there was a meeting in lower Manhattan of about 2 and a half dozen of the most powerful investment people in the country. To my knowledge, from a source I have, there was an agreement to start an artificial hyperinflation to stop the downturn of the economy. This means that the banks will start loaning the money that they received from the government, which is taxpayer money, but they will be loaning it out at outrages interest rates comparable to the rates of the Jimmy Carter Administration and the value of the dollar will decrease as to the value of what you can buy with it in the United States. Could this be what Mr. Geitner meant when he said the American people will invest in his plan.
(g) The stock market has taken a downturn from comments from President Obama and the Secretary of the Treasury.
(h) I wonder how much of this money, is or will, be sitting in a post office box in Union Station or in a Swiss or Chinese Bank.
No matter what they try to do, the more the bureaucrats get involved the more prolonged the financial crisis will last and the American people, as usual, will pay the price.