Toxic Asset Plan Foresees Big Subsidies for Investors
http://www.nytimes.com/2009/03/21/business/21bank.html?_r=1&pagewanted=1&hp
WASHINGTON — The Treasury Department is expected to unveil early next week its long-delayed plan to buy as much as $1 trillion in troubled mortgages and related assets from financial institutions, according to people close to the talks.
The plan is likely to offer generous subsidies, in the form of low-interest loans, to coax investors to form partnerships with the government to buy toxic assets from banks. "
(end of quote - click the link to read the full article)
This would again amount to transfer of wealth from the common people to the bankers and the elite.
Is this a good thing?
Would you lay odds that, like before, there will be an "event" followed by media spin with the ominous warning that unless we fork over hundreds of billions, gloom and doom will appear tomorrow?
Is there a bottom to the bailouts .. or will history reveal that the taxpayers shouldered the entire burden for bad investments made on the part of the elite?
http://www.nytimes.com/2009/03/21/business/21bank.html?_r=1&pagewanted=1&hp
WASHINGTON — The Treasury Department is expected to unveil early next week its long-delayed plan to buy as much as $1 trillion in troubled mortgages and related assets from financial institutions, according to people close to the talks.
The plan is likely to offer generous subsidies, in the form of low-interest loans, to coax investors to form partnerships with the government to buy toxic assets from banks. "
(end of quote - click the link to read the full article)
This would again amount to transfer of wealth from the common people to the bankers and the elite.
Is this a good thing?
Would you lay odds that, like before, there will be an "event" followed by media spin with the ominous warning that unless we fork over hundreds of billions, gloom and doom will appear tomorrow?
Is there a bottom to the bailouts .. or will history reveal that the taxpayers shouldered the entire burden for bad investments made on the part of the elite?