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Sunlight Foundation - Dodd's Legislative Proposal From Treasury Department for Authority to Buy Mortgage-Related Assets.

Miss Nancy sez, It's a go! Better memorize it.

Diversity is the key to economic and political evolution.

by Cat on Thu Sep 25th, 2008 at 03:16:45 PM EST
I can't improve upon Martin's comment on that blog:
Please everyone. Don't just whine and make sarcastic comments. Call your Senators and Congressmen and tell them to not spend the nation into debt to reward rich bankers with even more money.
posted by Martin Sarsfield, September 23, 2008
Ask them why our money should be used to improve the balance sheets of these institutions and how the taxpayers are supposed to get their money back if MS and GS go bust anyway.  The bailout should only go to purchase genuine securities, i.e. mortgages.  These mortgages and the properties by which they are secured may be well under water now but are not likely to go to zero.  Who knows what still can happen to MS and GS with credit default swaps, CDOs, etc.  These  could be massive liabilities as we speak instead of assets.  Put the money in the toilet, flush it, say "thank you" and ask for more!  How do they stop Paulson if that is his plan?  NO FUNDING WITHOUT DISCOVERY!  

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Sep 25th, 2008 at 04:25:03 PM EST
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