What does that bovine scat mean?
Wall Street is holding worthless paper and wants the taxpayer to hold that worthless paper, and be glad to be such a winner.
I’m not sure I get the part where I’m supposed to say “thank you, sir, may I have some more.”
“What does that bovine scat mean?”
Uh, the principal and interest payments from the homeowners go to treasury.
99% of the loans are “performing” -— that is, the people pay.
“Any loan package bought by the Treasury will be 100 percent taxpayer owned.”
The notion that something owned by the US government is somehow “taxpayer owned” is just spin. Now if they decide to invest $700 billion in bank stock, and then send me my shares in the mail, that would be truly “taxpayer owned”.