One trillion dollars in two weeks?
FNM and FRE $200 billion.
AIG $85 billion.
Bailout $700 billion to start.
This bill stinks. Force it through without even a discussion? It's not even capped. $700 billion is the start. Paulson is trying to monetize the debt, instead of marginalizing it.
Marginalize it with an infrastructure boom; a rebuilding of bridges and highways, a new energy platform, instead of just allowing Wall Street to suck teat with the Fed's and the select group of asset managers that can make the vig off the dispositions of these mortgages.
Why should we buy into "the banking system is sound" Paulson? Only after Goldman Sachs got dinged did they go into panic move.
Let's hope China can offset this because it came to the position where now we don't have a much choice.
And that's because Bernanke and Paulson didn't see it coming.
But put some restrictions on this socialist/dictator bill!