Showing posts with label '08 credit crisis. Show all posts
Showing posts with label '08 credit crisis. Show all posts

Saturday, December 06, 2008

Where's the money coming from?

Obama Pledges Massive Public Works Program, New York Times, by Peter Baker
from lucianne.com

Where is the money coming from to fund these 'massive public works program'?
The government can print the paper that money represents. Government does not create the money, just the currency paper on which it is printed.
Adam Smith and Milton Friedman rise up from your grave.
We are screwed...

Saturday, September 27, 2008

Democrats own words...

Democrats Covering up the FannieMae, FreddieMac Scam in this YouTube video in 2004.
Do not vote Democrat this year!

my bank is not in trouble!

Valley National Bank is doing ok in this credit market crisis.
I bank at Valley since it was a 6 branch, 2 city family bank in Passaic & Clifton - Bank of Passaic & Clifton.
VLY share price closed 21.48 Friday.
Valley's Credit Quality Focus on loan quality and profitability over growth. Proven record of superior asset quality throughout various economic cycles. Have always abstained from exotic residential mortgage structures and other volatile products, including sub-prime loans, option ARMs and high loan to value home equity and residential loans

September '08 Financial statement via Edgar Online