Posted on 09/18/2008 12:38:31 PM PDT by politicket
NEW YORK (AP) -- Wall Street surged higher Thursday, with the Dow Jones industrials up more than 400 points after a report that the federal government is considering creation of a repository for banks' bad debt. CNBC said Treasury Secretary Henry Paulson is considering creation of an entity like the Resolution Trust Corp. that was formed after the failure of savings and loan banks in the 1980s.
(Excerpt) Read more at biz.yahoo.com ...
I hope it’s ineptitude. The other interpretation is that they are deliberately trying to destroy the economy.
LOL...the gov won’t invest in the market due to perceived risk, but will soak up every bad investment they can find...incredible!
oh no Obama what will u do now???
More corporate welfare. More rewarding of the incompetent.
latest rp on this....
http://gunnyg.wordpress.com/2008/09/18/ron-paul-blasts-secret-government-running-economy/
Just remember who holds a tremendous amount of our paper and has a desire to buy up to 1/2 of Morgan Stanley.
Hint: After eating their food you will be hungry an hour later.
My country ‘tis of thee
Sweet land of entities....
LOL...the gov won’t invest in the market due to perceived risk, but will soak up every bad investment they can find...incredible!
Free market R.I.P.
What an idiotic statement.
We’re starting to look like our buddy Hugo down yonder. Guess we’ll just nationalize all of the problem children.
I don’t know if they have much choice at this point. The damage was done by the democrat inspired deregulation back in the 1990s. This disaster didn’t just emerge overnight; it’s been brewing for a while.
We can absorb the losses and try to maintain some stability in the financial markets, or we can just crash and burn.
We may not like having to drink poison, but at least we have our choice.
I bet on the later, deliberately destroying the country.
So now the government is going to own a bunch of houses?
(shaking head)
This doesn’t even sound constitutional.
????
Boy..the democrats will love this turn of affairs. Now they can just promise folks ‘a house for a vote’...literally.
Can ‘forty acres and a mule’ be far behind?!
(eye roll)
Goodbye Capitalism, it was nice knowing you, come back soon.
Hello Socialism. Hope you enjoy you’re stay.
Paul called this a long time ago.
Another great big bail-out with the taxpayers’ money. A further slide to socialism away from capitalism.
Right they are trying to sell our country to the Arabs and to China.
But only if you're "the right folks"
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.