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THOUGHT FOR THE DAY!

"I am strongly in favor of using poisoned gas against uncivilized tribes. The moral effect should be good...and it would spread a lively terror.... "-- Winston Churchill commenting on the British use of poison gas against the Iraqis after World War I

 

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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Comments

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Gotta take care of investors first

chillyphantom

What do WE THE PEOPLE mean to the current situation?

They are the cash cow that will save the investors - some of them members of government.

I'd call that a huge conflict of interest - if not outright theft.

But, Americans are too damned stOOpid to do anything about it.

09/19/2008 - 17:51

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