President Bush talks about a different plan than the one we’ve been hearing about. This one apparently involves buying the troubled assets “at the current low price.” That plan would be reasonable, except that no bank would participate. Banks already can sell at market prices, but they’d have to admit to losses if they did. The bailout only works if the government pays a premium, screwing the taxpayer. Bernanke and Paulson have testified to this fact.
No need to thank me
contact me
contact me
People I read and agree with
People I disagree with but read anyway because they are smarter than me
Follow on Tumblr
Following
© 2008–2012 Powered by Tumblr
