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Under the plan, the federal government would purchase mortgage-backed securities and other bad debts held by banks and other investors. The money should help troubled lenders make new loans and keep credit lines open. The government would later try to sell the discounted loan packages at the best possible price.
At the insistence of House Republicans, some of the program's $700 billion would be devoted to a program that would encourage holders of distressed mortgage-backed securities
Sept. 25 (Bloomberg) -- More than 150 prominent U.S. economists, including three Nobel Prize winners, urged Congress to hold off on passing a $700 billion financial market rescue plan until it can be studied more closely
``I suspect that part of what we're seeing in the freezing up of lending markets is strategic behavior on the part of big financial players who stand to benefit from the bailout,'' said David K. Levine, an economist at Washington University in St. Louis, who studies liquidity constraints and game theory.
The government is being pressured by corrupt money masters to burden the U.S. taxpayer with a $700 billion bailout. Our country is already indebted more than $9.4 trillion. With each passing minute, the debt grows by almost $1 million. We can’t afford more debt. We can’t afford to sit atop a burgeoning pile of IOUs when our foreign financers have the ability to cease funds at any moment, leading to the annihilation of our country. American taxpayers shouldn’t have to pay for the misdealing of these corporate elites who only are concerned about maintaining their lavish lifestyle and stature in society.
Originally posted by sickboy1313
One of the best parts of the agreement is that The heads of these companies will get "reasonable compensation". What happened Mr. Dodd?
And for those saying that the people are too stupid to know what's going on
that's not entirely true
too many are against the bailout but the media ignores these people
I am told that the reason the Treasury Secretary does not want limits on executive compensation is because he believes that an executive then will not bring his company in to partake in any program that is set up. Here is my response to that: We can put that executive on his boat, take that boat out in the ocean, and set it on fire. If that is how he feels, that is what should happen, or his company doesn't come in.