The legislation the administration is promoting would allow the government to buy bad mortgages and other rotten assets held by troubled banks and financial institutions. Getting those debts off their books should bolster those companies' balance sheets, making them more inclined to lend and easing one of the biggest choke points in the credit crisis. If the plan works, it should help lift a major weight off the national economy that is already sputtering.So, let me get this straight: The proposed plan is that we use taxpayer money, the same money that we cant use to provide health care or affordable college educations, to buy bad debts from banks, so that they will be more willing/able to lend money again, and that they'll promise not to do such a bad job this next time.
Well, gee, how could the Congress possibly have a problem with that plan, and why do you suppose they're resisting the high-pressure sales tactics of the always-believable Bush Administration?
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And if that's not a mind-blower, consider this: we have to bail out the good banks with the bad ones, b/c if we only bail out the bad ones it gives them an unfair advantage.
Oh, and one of Bush's aides was saying that people shouldn't worry about them rushing this plan because it was planned months ago. Read that sentence again.
"it was planned months ago" = conspiracy?
What are the odds?
Wait, was this was planned for months ago while the economy was sound? Boy, those Bush guys really dont leave a stone unturned when they plan, do they? Every contingency covered (when there's a buck to be made from the taxpayer, that is).
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