Monday, September 22, 2008

Socialism for the Top 5% the rest of you can rot - repubs

$700B bailout: The latest - Sep. 21, 2008
The plan: According to the administration's proposal, the federal government would buy up as much as $700 billion of illiquid assets at a deep discount from banks. The program has been expanded beyond just problem mortgages and will now include other problem assets.

The Treasury Department would run the program directly, unlike the savings and loan crisis of the 1990s when Congress created the Resolution Trust Company to spearhead a financial bailout.

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