This is not a bailout. It is what is known in finance circles as vulture capitalism. You buy up distressed assets at a steep discount, wait until the market for those assets improves, and sell them at a handsome profit. Don't take my word for it, ask Warren Buffett. The guy is the best investor of the last fifty years, and he sees a big fat profit for the Treasury in this deal. Normally this is a market function that private companies would provide, but the scope of the problem is so huge that private industry can't deal with it.
Does it suck to get the government involved? Yes, it sucks a lot. But the alternative is going to be really, really ugly. On Thu, Sep 25, 2008 at 4:12 PM, Loathe wrote: > 700 billion to bail out private industry? > > How could anyone that thinks of themselves as fiscally conservative, > libertarian, or my god even AMERICAN consider this is beyond my ken. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:270922 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
