Bailout redux! via Nancy Boyce.

Via on Oct 6, 2008

The Ink Tank: A daily roundup of editorial cartoonsThe Ink Tank: A daily roundup of editorial cartoonsThe Ink Tank: A daily roundup of editorial cartoons

Why reward automakers for failing to embrace the green movement, thus losing ka-billions to Toyota and Honda over the last year as their SUVs and big trucks idle in salesyards nationwide? So much for the free market punishing their indolence—you and I and our fellow Americans just rewarded ‘em with a $25 million buck loan. As if we’re not already in enough debt—where’s the money coming from!? ~ ed.

Via Nancy Boyce: “Just thought everyone should know that while us Americans were worried about the Big $700 Billion dollar bail out that plastered the news for the past week, the House and Senate slid through the back door an approval of $630 billion package and it’s on the President’s desk to be signed. $488 billion goes for the Pentagon and $25 billion to the American auto industry:”

CNBC article 9/27/08

http://www.cnbc.com/id/26915639

Bloomberg article 9/29/08

http://www.bloomberg.com/apps/news?pid=20601087&sid=ahwz_k5JvuB8&refer=home

Excerpt: Fed Pumps Further $630 Billion Into Financial System (Update3) By Scott Lanman and Craig Torres

Sept. 29 (Bloomberg) — The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.

The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed’s emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.

The Fed’s expansion of liquidity, the biggest since…for more.

About Waylon Lewis

Waylon Lewis, founder of elephant magazine, now elephantjournal.com & host of Walk the Talk Show with Waylon Lewis, is a 1st generation American Buddhist “Dharma Brat." Voted #1 in U.S. on twitter for #green two years running, Changemaker & Eco Ambassador by Treehugger, Green Hero by Discovery’s Planet Green, Best (!) Shameless Self-Promoter at Westword's Web Awards, Prominent Buddhist by Shambhala Sun, & 100 Most Influential People in Health & Fitness 2011 by "Greatist", Waylon is a mediocre climber, lazy yogi, 365-day bicycle commuter & best friend to Redford (his rescue hound). His aim: to bring the good news re: "the mindful life" beyond the choir & to all those who didn't know they gave a care. elephantjournal.com | facebook.com/elephantjournal | twitter.com/elephantjournal | facebook.com/waylonhlewis | twitter.com/waylonlewis | Google+ For more: publisherelephantjournalcom

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2 Responses to “Bailout redux! via Nancy Boyce.”

  1. Nancy Boyce says:

    That really makes the bailout more like a trillion and a half – the 688 billion that passed through the end of September and the 850 billion that passed through last week. And most people don’t know about that total.

    I can’t imagine with the stock sell off and trillion + bailout how we all will manage. Kindness and compassion will have to sustain us all.

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