Bloomberg Analyst: $700 Billion Bailout Could Balloon To $5 Trillion
Swell…
So now they try to solve the problem by having this credit bubble actually extended and I think the $700 billion will be like a drop in the bucket because the total credit market in the U.S. is something close to $60 trillion, then you have the CDS market – credit default swap – of around $62 trillion. Then you have the whole derivatives worldwide worth about a notional $1,300 trillion. So the $700 billion is really nothing and the Treasury is just giving out this figure when actually the end figure may be $5 trillion.”
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Our ‘government’ has completely fucked up the housing industry, the foundation of much of our prosperity, trying to keep less than 5% of the homeowners likely to foreclose from actually foreclosing.
September 26th, 2008 at 9:08 pmIt’s been trying to find its ntural floor for two years.
Leave the market alone!!! You fuckers cannot manage ANYTHING!!!