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Bush to meet with financial policymakers (Plunge Protection Team)

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spotbird Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 02:31 PM
Original message
Bush to meet with financial policymakers (Plunge Protection Team)
Source: Reuters

WASHINGTON (Reuters) - President George W. Bush plans to meet on Monday with top U.S. financial policymakers, the White House said, at a time of increased strains in credit markets and fears of a recession.

The White House said on Saturday Bush will meet members of the President's Working Group on Financial Markets, and a spokeswoman said Bush will get a status report on the markets.


Read more: http://www.reuters.com/article/ousiv/idUSN1546284420080...



Looks like they're going to print more money.
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HuffleClaw Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 02:35 PM
Response to Original message
1. can you IMAGINE having to be one of those folks?
trying to explain this stuff to the chimp?
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spotbird Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 02:45 PM
Response to Reply #1
3. What can they do but
crash the dollar further?
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MidwestTransplant Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 04:07 PM
Response to Reply #1
7. That would be seriously painful
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 02:41 PM
Response to Original message
2. My financial guy called me today
and actually admitted it was a feel-good call to soothe nervous stockholders. He already realizes I'm not one of those and that I'm expecting the trend to stay down at least until Stupid is out of office.

However, the market is bracing itself for another big drop on Monday. Institutional buying is triggered at various preset points in the S&P, so there should be another sucker rally midweek to erase Monday's losses but not the losses of this past week.

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OKthatsIT Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 03:02 PM
Response to Original message
4. Blaming the Fed for Carlyle's Collapse.....oh, now I get it.
Bush sobers up when it gets personal?

Blaming the Fed for Carlyle's Collapse
Some pundits suggest that the Federal Reserve's move to prop up the banking system prompted creditors to play hardball with Carlyle Capital
by Peter Coy
Businessweek

Could the Federal Reserve's efforts to prop up the banking system have the unintended consequence of pushing some debt-burdened hedge funds out of business? The question arose this week after Carlyle Capitala fund with $22 billion in assets at its peakannounced that creditors were seizing its collateral because it couldn't meet margin calls, or requests for additional collateral.

Carlyle Capital's announcement came just two days after the Federal Reserve's announcement that it would allow 20 big commercial and investment banks to borrow up to $200 billion in Treasury securities in exchange for high-quality collateral. A source close to Carlyle Capital endorsed the idea that the Fed's action might have contributed indirectly to its crash, saying in response to a question from BusinessWeek, "it's possible that the move by the Fed emboldened some lenders."

How could the Fed unintentionally have contributed to Carlyle's unraveling? The theory is that the Fed's action made Carlyle Capital's assets more lucrative to the firm's large creditors. Therefore, those creditors had an incentive to let Carlyle Capital fail and seize its assets. Robert Peston, business editor of the BBC, advanced the idea Mar. 13 on his blog, and the notion was quickly picked up and circulated by other bloggers.

more... http://www.businessweek.com/bwdaily/dnflash/content/mar...
==================================================================

ITS CALLED...ANGLO-AMERICAN LOSERS! EURO BANKSTERS WIN. Even Rockefeller is ducktailing and hiding.
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Vincardog Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 03:04 PM
Response to Original message
5. Does anyone think it is about 7 years late for that? KKKamander Fucketard strikes again
Who would have thought that such a Miserable failures would make such a disastrous (p)Resident?
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quidam56 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 04:02 PM
Response to Original message
6. Fascist Bastard !
Why wait until Monday ?
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annabanana Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 04:11 PM
Response to Reply #6
8. Welcome to DU!
You don't expect the Monkey to work on the weekend, do you?
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pdefalla Donating Member (133 posts) Send PM | Profile | Ignore Sat Mar-15-08 04:54 PM
Response to Original message
9. Boy is Bush in a hard place
Reuters:
"Democrats in Congress are pushing for legislation under which the Federal Housing Administration could play a larger role in helping to stem the rising tide of home foreclosures that threatens to swamp the financial system.

However, the Bush administration has been cool to any proposals that would expand the government's role."

So the deal is that Bush desperately wants to help the situation by giving lots of government bucks to his financial friends, but to do so would require that the Federal Government step in and actually control the situation. That sounds too much like regulation, so all he can do is ask for "self-policing", which means nothing at all. The "President's Working Group" will do nothing, because like his Iraq advisers, they must point out his failures in order to correct the problem.
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benld74 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 05:14 PM
Response to Original message
10. fears of a recession? where the F*ck Rueter get their news from now a days?
I can hear the meeting now
Advisor: Nope boss, everything is good boss, nothings wrong boss, they're lying boss
Buthead: Thats wut I thunk, damn librels!
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Orsino Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 05:29 PM
Response to Original message
11. ...to ensure that nothing is actually accomplished.
We would do better to have Carrot Top meet with financial policymakers.
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H8fascistcons Donating Member (172 posts) Send PM | Profile | Ignore Sat Mar-15-08 06:15 PM
Response to Original message
12. New Bush Policy
Same as the old Bush policy, my fellow Americans go out and buy some worthless junk from China and ensure no American was employed by your purchase so the multinational corporations and the republicans can remain in control...



*Please never forget that the criminal Fascist republicans could never continue to commit crimes against us or the constitution without the help of the criminal Fascist enablers Nancy Pelosi, Steny Hoyer, Harry Reed, Jay Rockefeller, Rahm Emanuel. These criminal Democrats do not get to pick and choose which crimes against the constitution to ignore, please do not forget until they are all voted out of office...
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truthisfreedom Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 07:05 PM
Response to Original message
13. Naw, I think he should wait a few more weeks. Maybe a month or three.
He's rushing things. He's the "stay the course" president... I think he should stay the course. Don't want to over-correct, now that we just hit the iceberg we've been aiming at for 7 years!
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Mind_your_head Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 07:39 PM
Response to Original message
14. They'll certainly give him his new marching orders
Watch for any new bruises on the shrub after the meeting (or they may just hit him behind the knees with a rubber hose ~ not visible, but just as painful ~ if he doesn't go along with 'the cool PPT/Fed Reserve guys').

The shrub isn't gonna 'tell' the PPT ANYTHING. The PPT is gonna ORDER the shrub what to say/how to behave, etc.

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CountAllVotes Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-16-08 11:36 AM
Response to Reply #14
15. I'm watching!
Kick & recommend!

:kick:
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