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Treasury could buy debt for 2 years under plan: report

The U.S. Treasury would have authority to buy whole loans, collateralized debt obligations and mortgage-backed securities under an evolving financial market rescue plan, CNBC reported on Friday, citing an unnamed Treasury official.

Webmaster's Commentary: 

So, we cannot know how much this plan is actually going to cost us, because over the next two years, who knows what other debts will be revealed (or be created)?

This is an open-ended deal. There is no end to the cash drain on this plan.

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Posted on Sep 19, 2008 at 17:41
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