New bank bailout could cost up to $2 trillion: report

Government officials seeking to revamp the financial bailout have discussed spending another $1 trillion to $2 trillion to help restore banks to health, the Wall Street Journal said, citing people familiar with the matter.

To view dictionary popup window put your cursor on the blue scripture words.

“…upon the earth distress of nations, with perplexityStrongs 640: aporia, ap-or-ee´-a; from the same as 639; a (state of) quandary:—perplexity.
Strongs 639: aporeo, ap-or-eh´-o; from a compound of 1 (as a negative particle) and the base of 4198; to have no way out, i.e. be at a loss (mentally):— (stand in) doubt, be perplexed
—Luke 21:25

Root of All Evil

“For the love of money is the root Strongs 4491: rhiza, hrid´-zah; apparently a primary word; a “root” (literally or figuratively):—root of all.of all evil Strongs 2556: kakos, kak-os´; apparently a primary word; worthless (intrinsically, such; whereas 4190 properly refers to effects), i.e. (subjectively) depraved, or (objectively) injurious:—bad, evil, harm, ill, noisome, wicked. …..”
—1 Timothy 6:10a

The paper said the Barack Obama administration could announce its plans within days but has not yet determined the final shape of its new proposal, and the exact details could change.

The administration is also seeking more effective ways to pump money into banks, and is considering buying common shares in the banks, according to the paper.

A Treasury spokeswoman told the paper that “while lots of options are on the table, there are no final decisions” on what she described as a “comprehensive plan.”

“The president has made it clear that he’ll do whatever it takes to stabilize our financial system so that we can get credit flowing again to families and businesses,” she told the paper.

The U.S. Treasury has already disbursed nearly $294 billion from the government $700 billion Troubled Asset Relief Program, or TARP to shore up the banking system and faltering U.S. automakers. Billions more have been pledged for particular uses.

A Treasury spokeswoman did not immediately respond to a Reuters email seeking comment that was sent after normal business hours.

The WSJ said another way being considered for the government to inject money into banks is the purchase of convertible bonds, in which the government would be paid interest now but have the option to get common equity later.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Anshuman Daga)

  1. Ernest Gregoire, 29 January, 2009

    Remember when liberals were complaining that 60 billion dollars was exorbitant for the Iraq war?


  2. Cindy, 29 January, 2009

    Look who minding the mint! Just another bad choice for Obama?

  3. lawrenceeddy, 29 January, 2009

    Follow the Roman history and you will find out that we are following them to the T. They collapse and so will we. You read the 26th chapter of Lev and you tell me that that isn’t the U.S.A. today. I want to thank the aclu for the total destruction of this country. You can’t tell me that they don’t hate God. And her is the bad part there are people that go to church and carry there bible and sit in the first seats up front and think the ACLU is the best thing that has ever happen to this nation.” RIGHT” No more needs to be said.
    God Bless and have a nice day.
    L. Eddy

  4. L Bones, 29 January, 2009

    Right on! Ernest. Great point!

  5. becca, 30 January, 2009

    I think that every day that we don’t have a solution to this mess there should be a 1 percent pay cut from each upper level governement workers paycheck. President, Congress, Senate etc. Put it back into the pockets of those who work and pay taxes. Government made this mess (many citizens sat idly while gov’t did so) and now folks think government can fix it. When will we ever learn???

  6. Jordan, 31 January, 2009

    We have to remember that these are leaders appointed after OUR own hearts. 2 Chronicles 7:14 “If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.” So, ultimately, it is our hypocrisy that is the problem, not the world’s. God judges starting in His own house. I think economic collapse/recession is an affective tool to sort wheat from chaff and strengthen the faith of true believers.

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