Posted on 09/26/2008 2:38:35 PM PDT by MeanWestTexan
> “Any loan package bought by the Treasury will be 100 percent taxpayer owned.”
And if the feds can unravel the mess into a profit, why can’t private industry do the same? If it is a plum for the picking, capitalists would be leaping at that plum.
My view is a plan to purchase this bad paper is better than socializing more of the credit market with a government insurance plan. My back of the envelope calculation is that a 1930-1933 style depression would cost more than $6,000 billion starting from last years GDP level.
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