To: <bobford79 AT yahoo.com>, <homestead AT lists.ibiblio.org>
Subject: Re: [Homestead] Inflation --commentary
Date: Mon, 29 Sep 2008 09:45:47 -0500
> His math was wrong, but this is going to cost a lot more
> than 700 BN before it is over.
Bernanke said when asked a couple of weeks ago that he felt the immediate
cost would be $800B with another $400B needed soon. The Treasury when asked
about the $700B figure said they just picked a big number. So the real
answer is "Who knows?"
> Every union, every industry, every special interest is going to say
> "you gave to wall street, now I want mine"
The Hedge funds are already standing in line. Year end withdrawal
notifications will be starting on Wednesday. There is a fear of a run so
the Hedge Funds are trying to get in on the bailout and not get hind teat.
There is already a bill to give the automakers federal funds in the form of
money to design a more fuel efficient cat, something they are already doing
in the face of increasing fuel prices.