US Treasury Secretary, Hank Paulson, in collusion with the US Congress, is about to commit an act of blatant treason.
Instead of doing the right thing, which would have been to place the system in administration (bankruptcy reorganisation), he has decided to make the United States itself bankrupt.
What Paulson has announced is this: he will establish a Federal agency to buy up what will amount to trillions of dollars of bad debt. The debt will become the liability of the US taxpayer.
This is socialism for the rich; bailing out huge financial institutions on the backs of We the People, and at our expense.