Who isn't getting bailout money these days? - Top Stocks Blog - MSN Money
 
Search Top Stocks:

Who isn't getting bailout money these days?

Posted Nov 04 2008, 01:39 PM by Kim Peterson
Rating:
Filed under: , ,

The Treasury Department is thinking about bailing out other companies besides banks and insurers. The $700 billion rescue fund could help a finance unit of General Electric, for example. GE shares are up 8% today on the news.

That's a far cry from the original intent of the bailout, which was to buy toxic mortgages and other securities from banks. And the handout line keeps getting bigger, with everyone from transit agencies to car makers asking to be included in the rescue.

It's becoming obvious that the Treasury asked for too much money.

"So, now it’s banks, insurance firms, bond insurers, and miscellaneous finance firms," writes investor/analyst Paul Kedrosky on his blog. "With auto companies almost certain to get bailed out eventually, remind me again who’s not on the list."

It's worthwhile to revisit how the Treasury even picked the $700 billion figure to start with. This is probably my favorite quote of the year:

"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com in September. "We just wanted to choose a really large number." 

Nice. So of the original amount, $250 billion has been set aside for equity investments, the Journal says. About $160 billion has gone to a range of banks. 

The remaining $450 billion? The new president will probably have a big say in what happens to it.

Related reading:

A government bailout won't save GM

Bond insurers beg for piece of bailout action

Banks forced to make bad loans

The bailout gets too big

Comments

 

SCREW THIS. PEOPLE LETS GO OUT TO THE STREETS.

How about the government does a bail out for us citizens just give me 150,000.00 and I promise to pay off my mortgage, car, daughters college, credit cards and never charge again.

Well……. I guess they misplaced my address to send me my bailout check. In business for 15 years, small business now I have to file for bankruptcy because Amex and Bank of America have taken our credit lines away. I’ve never been late on any payments always paid as agreed. I don’t sleep, this is breaking my heart, had to layoff my 2 employees one having a baby in 2 weeks. No bank will even talk to us what is wrong with this country!!!!!!!!!!!!! All of my business years paying taxes and doing everything by the book, this is the end result. Thank you for letting me cry as I write this. As a Small Business Woman for 15 years I feel broken inside.

You managed your business improperly, now you must close and lose everything you built. It happens all over America on a regular basis.  No one bails them out and then sends them to day spas.

This all seams so surreal. The sad turn our great nation has made.  Not just with this bailout but the inexcusable greed and indifference.  

Hopefully, today is the day that we say " ENOUGH!!". We are not going to just shake our heads in disbelief and accept it anymore.    

Get out and vote. Make yourself heard, not just today but everyday!

I'm going to buy GE at $5.00.  Until then, it's overpriced.

Everyone (including the banks that had property default to them) is getting bailed out, except for the american people that pay taxes and that had their homes taken.

Small business is the "backbone" of this country. Why did our country break it's own back? You could blame the  lobbiest for big business, greedy wallstreet investors, or the self interest of politicians. Ultimately it doesn,t matter who you place the blame on. We must learn to live within our means. If your income won't support your lifestyle, you need to change either your lifestyle or your income. Do you really need (2) laptops, (3) desktops, and (4) tv's, when you can't make your monthly mortgage payments? We need to secure our NEEDS before our WANTS.

Most of us can't tell the difference. As we again tighten our belts and look for ways to forge ahead in this global economy, you must learn to take care of yourself and your family. If you did not vote yesterday, then you have no voice in what will happen.

Those that understand this will find a way to struggle thru.

What about bailing out all of us retirees ,who always payed our bills,

did not default on our mortgages,

because we tried not to overextend on what we could pay.

We have lost Trillions on our 401K's that we

are depending on to live. What about giving us some of that 700 Billion?

Karen Carpenter,God rest her beautiful soul, sang "It's only just begun" it was very poetic, however those four words now better describe the terrible situation that our government (with de-regulation of the following), investment firms, banks, hedge funds, credit card companies and all of their sleezey lobbiests have led the American Citizen to. The begining  of a period in our lifetimes that will rival the Great Depression of the 1930's. As the banks, bond companies and others with their hands out for the $750,000,000,000 bailout hoard this cash to strengthen their own balance sheets against further losses from SIV's & CDO's and not re-lend those dollars to large and small businesses alike, the downward spiral of the Great American Economy will intensify to a point of near great depression levels. Don't listen to the talking heads on the business news programs that are saying "everything is going to be going up soon, we've reached bottom on 10/10/08". Why are they so optimistic,  because their livelyhoods depend on it. Without the vast amounts of buying & selling of equities, they don't earn commisssions on those sales, so what do you expect them to say "We're screwed". I feel badly for President-Elect Obama, as he will inherit the same thing that Herbert Hoover did, an economy in crisis that will take him his entire Presidency to dig out of, instead of concentrating on "Change that we can believe in"  he will have to concentrate on the woes that began with the Clinton Administration back in 1995 and that are cresting today, easy credit. I'm afraid most of us are about to begin singing "Who's sorry now".

Stupid is as stupid does.  Thank the Amerikan people so dumb they "bought"into  George Bush and Company.

Amerika does not work.  Big Business controls who Amerikans select to elect.  Without big business money, a canidate can not compete in politics

Wall Street is being bailed out by politicians, not main street.  The crooks stay healthy.  It must be nice to right off your losses and keep the "wins".

Until these crooks in Congress and Wall Street are arrested and prosecuted, Amerikans have no chance.

Obama and the Democrats are not CHANGE, just a different set of crooks.

Send a Comment

Comments must be directly related to the blog entry. Comments with offensive language will be deleted. Your e-mail address won't be displayed.

(please, no HTML tags. Web addresses will be hyperlinked):