http://globaleconomicanalysis.blogspot.com/2008/09/congressional-leaders-stunned-that.html"...Congress was stunned because Bernanke finally admitted the truth (or at least came closer to doing so). Congress ought to be reading blogs rather than listening to clowns like Paulson and Bernanke.
How many times have we heard Paulson the Parrot sing the praises of the strong dollar and the soundness of the US financial system?
...Earlier today Paulson has the gall to state "this will cost the tax payer less than the alternative".
No one bothered to ask why it should cost the taxpayer anything at all.
Furthermore, Paulson once again proved he needs simple arithmetic lessons. Shifting losses from those who should bear them (stock and bond holders of failing companies) to the taxpayers is not going to save the taxpayers a dime, rather it is going to cost them plenty, $1.2 trillion plenty as noted in US Taxpayer: A Giant Dumpster For Illiquid Assets..."
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