[TigerLikesRooster]

Ping!

[kabar]

There are no guarantees that this or any other plan will work.

[KeyLargo]

* OPINION
* SEPTEMBER 26, 2008

The Public Deserves a Better Deal
By JOHN PAULSON

Under the Treasury plan the taxpayer pays the price. Under a Preferred plan, the shareholders of the firms who created the problems bear the first loss. Who do you think should pay?

Before committing $700 billion of our money, we should encourage Congress to take a few extra days to get this legislation right.

Excerpt

http://online.wsj.com/article/SB122238667352477103.html

[ex-Texan]

$ 700 Billion. That figure ought to be adjusted upwards to reflect potential risk to the American taxpayer. Total risk probably exceeds $ 2.5 Trillion. Wait. It gets worse.

If these securities are marked to market how much would they be worth _____________ ? About 20 cents on the dollar is about right. At this time. In a year, maybe 15 cents or 10 cents on the dollar would reflect reality. All those toxic mortgages. Massive fraud. Sold to the whole world.

Shame, shame, shame . . .

Congress is being asked to pay sky high values only because Paulson set the values that way. He also expects that regardless of what happens the companies involved will never face legal consequences. Very curious situation. He wants lifetime 'get out of jail free cards' issued to all his cronies. And himself.

I say, 'No way, no how, go to jail . . .'

[Tempest]

It’s worse Wall street is trying to shove a $700 billion dollar time bob down our throats.