Yes, and I'm sure Sarah Porker Palin would agree. Her history in "governing" in Alaska is basically nothing more than Bush Jr's failed economic policies gone wild: http://online.wsj.com/article/SB122152654971140245.html
--------- On Sep 15, 10:44 pm, Frank <[EMAIL PROTECTED]> wrote: > More US corporate bailouts on the way > By Barry Grey > 16 September 2008 > > The US government, brushing aside its constant invocations of “private > enterprise,” has dispensed hundreds of billions of dollars in cheap > loans to prop up the banks. Last March, the Federal Reserve Board paid > JP Morgan Chase $29 billion to take over the investment bank Bear > Stearns when Bear was on the verge of declaring bankruptcy. > > Only a week ago, the US Treasury committed at least $200 billion in > taxpayer funds in the government takeover of Fannie Mae and Freddie Mac > —a move that makes the government responsible for the two companies’ > combined $5.3 trillion in mortgage liabilities. > > The claims that the government, in allowing Lehman Brothers to > collapse, has “drawn the line” on further taxpayer bailouts of failing > corporations are false. The government decided to let Lehman fail, in > part, to conserve the dwindling funds at the disposal of the Federal > Reserve and calibrate hand-outs from the Treasury—which faces record > budget and trade deficits and a soaring national debt—to be used to > rescue more strategic companies. > > The Fed has reportedly agreed to widen its bailout of Wall Street by > accepting, in return for low-cost loans to both commercial and > investment banks, even more dubious forms of collateral, including > shares of stock whose value has collapsed and mortgage-backed > securities that can be sold on the market only for pennies on the > dollar. > > There are growing calls on Wall Street and in the financial press for > the government to directly buy the near-worthless subprime mortgage- > backed securities and other collapsing credit instruments that are > undermining the balance sheets of major financial companies. With the > government takeover of Fannie Mae and Freddie Mac—which was sanctioned > in advance by the Democratic Congress—the legal and structural > framework is in place for this wholesale government bailout of the > banking system. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
