To: foutsc
It is not really hundreds of billions in spending, it is hundred of billions in investing. The government will pick up most of these loans at about 60 cents on the dollar. As long as the real estate market does not crash, the US government will likely make out making billions on this deal. Of course the government will get stuck with more than its share of bad loans, it should make out well on the majority of them.
2 posted on
09/21/2008 11:30:42 AM PDT by
Always Right
(Obama: more arrogant than Bill Clinton, more naive than Jimmy Carter, and more liberal than LBJ.)
To: Always Right
You're investing hope in our federal government? The same government whose improper meddling in free markets got us into this mess? Please go read Derbyshire's piece on irrational optimism. I'm not saying our nation will crash, but this is going to cost you and me a lot of money while the Wall Street Welfare Queens who caused it bail out with their golden parachutes.
3 posted on
09/21/2008 11:39:37 AM PDT by
foutsc
(-- Nietzsche is Dead)
To: Always Right
It is not really hundreds of billions in spending, it is hundred of billions in investing. You want the Government (which could not make a profit on a bordello) to invest hundreds of billions with us picking up the tab if it fails?
Sounds like a sucker bet to me.
6 posted on
09/21/2008 12:04:42 PM PDT by
Smokin' Joe
(How often God must weep at humans' folly.)
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