it's a number high enough to line a lot of pockets, and high enough that the taxpayer will try to get it back, and therefore keep shoveling more and more on top of it, 'just to get that 700 back' classic gambling mindset they're sinking into the poor taxpayer's head only the txpayer knew they never had a chance to get ahead in the first place, only get losses back
How about the taxpayers get warrants on GS and MS? Then Paulson can bail away to his heart's content.
U.S. stocks sharply lower as investors look to Fed for rate cut Tuesday October 7, 3:32 pm ET By Kate Gibson NEW YORK (MarketWatch) -- U.S. stocks on Tuesday declined for a fifth session straight, extending a sharp sell-off that has the major indexes trading at or near four-year lows, as investors found little relief in the Federal Reserve's latest steps to ease frozen credit markets. Equities remained sharply lower as minutes from the Federal Reserve's last formal meeting revealed rate cuts were put on the table at the mid-September gathering, and after Fed Chairman Ben Bernanke in a speech opened the door for a possible interest-rate cut soon. See details. Earlier, the Fed announced it would buy unsecured commercial paper in an effort to restart a market that has virtually shut down in recent weeks. Read The Fed . "Despite its scale, the Federal Reserve's massive injection of financial liquidity of late and its announcement of a new facility that will purchase commercial paper is not registering with investors who appear to be clamoring for interest rate cuts instead," said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co. http://biz.yahoo.com/cbsm-top/081007/53108427158d1011ef72e6a4d42d515f.html
What if the bailout plan doesn't work? Ah, nothing to worry about. Our good government will look out for us. They know what they're doing. :eek:
We have two problems, and until you realize it we are doomed. 1) not enough public hangings 2) not enough public hangings