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Here is the nut the Bush Administration is trying to protect with its 'bailout' plan...LINK

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Blackhatjack Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-22-08 10:07 AM
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Here is the nut the Bush Administration is trying to protect with its 'bailout' plan...LINK
It was the 'foreign companies' who pushed the Wall Street 'bailout' because without it they would refuse to make any kind of future infusion into the system, and in fact would have begun 'pulling out' their funds leading directly to a crash of those Wall Street behemoths.

And remember it is not the mortgages going belly up that is forcing this 'bailout' but rather the $26 trillion in exotic financial instruments in trouble that hedge funds are neck deep in that this proposed plan will allow the Sec of Treasury to quietly prop up with taxpayer funds.

The only analogy that is even close to this deal is allowing a fleet of Brinks trucks to roll up in front of Fort Knox, and empty the vaults for delivery to Bush's corrupt co-conspirators and foreign investors.

http://www.nytimes.com/2008/09/22/business/22paulson.html?_r=1&hp=&pagewanted=print&oref=slogin

"On Sunday, Mr. Paulson defended the plan and the administration’s decision to expand it to protect foreign companies and authorize even wider latitude to buy assets other than those that were backed by mortgages."
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