Why March14, 2008?

Discussion in 'Economics' started by gastropod, Sep 28, 2008.

  1. Why does the reaming of the American taxpayer aka "bailout plan" use March 14, 2008 as the basis for the bailout? Did the morons not realize by ummm, say, December of 2007 (when the Federal Reserve started its own bailout schemes - TAF, etc.) that there was a problem and that they shouldn't be making liar loans, option ARMS, etc? Does this have something to do with the failure of Bear Stearns right around that time?

    Oh, here is a link to the proposed rip off ->