18 Tough Questions (and Answers) About the Bailout

[strmrdr]

pretty good lowdown on the plan, I have read the plan and think they get it mostly right.
The plan was a disaster and would not have worked in my opinion.
http://www.time.com/time/business/article/0,8599,1845816,00.html

 

[strmrdr]

My comment from another thread:
"I read it and its a bad bill and a monster.
It sets up a government and industry ran committee to buy up the mortgages and "SECURITIES" within 90 days.
One huge huge problem is it isn't limited to mortgages they can also buy up securities that were based on the mortgages many of which were phantom securities ie: they only exist on paper.
So they could buy the same mortgage separate and as part of a security bundle several times over.
The only ones to decide is the members of the committee if any given action is double dipping."

 

[fleur-de-lis]

Fantastic link. Thank you, Storm.

f-d-l