Just trust us, we wouldn’t lie to you…
September 21st, 2008 by Sonny
$700 Billion Is Sought for Wall Street in Vast Bailout – NYTimes.com
The Bush administration on Saturday formally proposed a vast bailout of financial institutions in the United States, requesting unfettered authority for the Treasury Department to buy up to $700 billion in distressed mortgage-related assets from the private firms.
So the gang that couldn’t shoot straight wants everyone to just trust that they can fairly, wisely and prudently distribute at least $700 bilion, perhaps more like a trillion, in public funds? Congress needs to pass enabling legislation that has rules and real oversight to control this bail out. They have Henry Paulson, former CEO of Goldman-Sachs handing off billions to his collueages. Exactly who’s interests will he be serving?
