What happens when we borrow trillions to pay interest? »

Posted By populist 1 year, 3 months ago in Business & Finance

Some of the hundreds of customers waiting in line to get into an IndyMac Bank, open for the first time since the July 11 federal government takeover of the thrift, are reflected in the outside windows of the bank on July 14, 2008 in Pasadena, California. IndyMac, which was already in trouble because of it's subprime mortgages with people with bad or no credit history, was shut down three hours early on a Friday and remained closed over the weekend after customers withdrew $1.9 billion. Regulators say it is the second-largest bank failure ever in the US. As all 33 IndyMac branches reopen, customers with home-equity credit lines will reportedly find their accounts frozen while transactions involving deposit accounts will be conducted as normal under the name, IndyMac Federal Bank. Over the weekend, the Federal Reserve also worked on shoring up lenders Fannie Mae and Freddie Mac which control almost half of the national mortgage debt and are in danger of collapse as well. (Photo by David McNew/Getty Images)

«1 of 1»

Prop it 70 1 drop Drop it

Many are warning about the coming liability calamity, but the incentive of politicians is to keep pushing the problem to the future, when the government chief has retired and is receiving his unfunded government pension.

Read Full Story at freeliberal.com »

1333 Views Share Story 9 Comments Report

Submitted By:

populist

The essays we offer are unapologetically presented for you to read & analyze. Many are offered as a similar view to ours & others simply to invite ...

RSS Join the Discussion

+ Add Comment

Comments So Far: 10 (view all)
- Display

75%
TheRealizer1 year, 3 months ago

This comment is below the standard viewing threshold View It »

Possibly the emminent bankruptcy of the federal government is part of the plan to introduce the Amero as the new currency.

(comment_max_expanded_depth : 2) (comment depth : 2) (recursion depth : 1) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
Reply
3 Replies

loading ...
- 80%
  populist1 year, 3 months ago
  
  This comment is below the standard viewing threshold View It »
  
  possibly. seems to me that they're intentionally driving our economy to the brink....
  
  (comment_max_expanded_depth : 2) (comment depth : 3) (recursion depth : 2) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
  Reply
  1 Reply
  
  loading ...
  - 50%
    Will13131 year, 3 months ago
    
    This comment is below the standard viewing threshold View It »
    
    maybe not the economy... but it was the Bush administration's goal from the get go to devalue the dollar......
    
    5 billion invested in currency futures when bush took office.. around the first of this year.. was worth a staggering 160 trillion..... could have paid for the war.....
    
    and the moneys made trading currency is NOT TAXABLE or traceable...
    
    (comment_max_expanded_depth : 2) (comment depth : 4) (recursion depth : 3) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
    Reply
    0 Replies
    
    loading ...
- 100%
  willottica1 year, 3 months ago
  
  This comment is below the standard viewing threshold View It »
  
  As a Canadian, I am very much completely against the Amero. I will not accept my currency being tied to a country that has a proven track record of imprudent borrowing and constant inflation of the money supply because they refuse to make the difficult decision and raise taxes.
  
  If they try, there will be protests. I will happily be a protester.
  
  (comment_max_expanded_depth : 2) (comment depth : 3) (recursion depth : 2) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
  Reply
  0 Replies
  
  loading ...
airwick1944Comment removed: Retracted by user
0%
fotoman11334061 year, 3 months ago

This comment is below the standard viewing threshold View It »

Guys,
Sooner or later; this is gonna come back and "bite us"...

(comment_max_expanded_depth : 2) (comment depth : 2) (recursion depth : 1) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
Reply
0 Replies

loading ...
100%
markmawn21 year, 3 months ago

This comment is below the standard viewing threshold View It »

I have got to wonder why the recent obsession with the accumulation of unprecedented amount of wealth? Why now? What is on the horizon that requires investors to have historical gains for the few? Is it a fear of Lack? Or is it a conquering obsession? Or is there something far more sinister in the works? Asteroid? Migration to Mars? What!?! It's like we never left the 80's! Only the bad hair is gone!

(comment_max_expanded_depth : 2) (comment depth : 2) (recursion depth : 1) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
Reply
1 Reply

loading ...
- Neutral
  willottica1 year, 3 months ago
  
  This comment is below the standard viewing threshold View It »
  
  Don't worry mark, I don't think it's a recent obsession. Greed is one of the only constants.
  
  (comment_max_expanded_depth : 2) (comment depth : 3) (recursion depth : 2) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
  Reply
  0 Replies
  
  loading ...
Neutral
engineer1 year, 3 months ago

This comment is below the standard viewing threshold View It »

This was bound to happen

(comment_max_expanded_depth : 2) (comment depth : 2) (recursion depth : 1) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
Reply
0 Replies

loading ...
ReynaudlamarOComment removed: Hard Banned

View All 10 Comments

Add a Comment

Sign In With Your Propeller Account

Please keep your comments relevant to this story.

To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.

More News

Hello!

What happens when we borrow trillions to pay interest? »

Read Full Story at freeliberal.com »

Submitted By:

Other Related Articles:

RSS Join the Discussion

Comments So Far: 10 (view all)
- Display

TheRealizer1 year, 3 months ago

populist1 year, 3 months ago

Will13131 year, 3 months ago

willottica1 year, 3 months ago

airwick1944Comment removed: Retracted by user

fotoman11334061 year, 3 months ago

markmawn21 year, 3 months ago

willottica1 year, 3 months ago

engineer1 year, 3 months ago

ReynaudlamarOComment removed: Hard Banned

Add a Comment

Sign In With Your Propeller Account

More News

AOL Money & Finance

Daily Finance

WalletPop

CNN Money

Wall Street Journal

Financial Times

Submit a Story

Story Tags ?

Real Estate Info

Get the Latest Market Info for Your Area

Also Propping This Article

Also Dropping This Article

AOL Money Links

Groups Watching This

Categories

Also Submitted By

Help! How do I…

Hello!

What happens when we borrow trillions to pay interest? »

Submitted By:

Other Related Articles:

RSS Join the Discussion

Comments So Far: 10 (view all) - Display No Filter Fair Comments - 25% and above Good Comments - 50% and above Excellent Comments - 75% and above

airwick1944Comment removed: Retracted by user

ReynaudlamarOComment removed: Hard Banned

Add a Comment

Sign In With Your Propeller Account

More News

Submit a Story

Story Tags ?

Real Estate Info

Get the Latest Market Info for Your Area

Also Propping This Article

Also Dropping This Article

AOL Money Links

Groups Watching This

Categories

Also Submitted By

Comments So Far: 10 (view all)
- Display