Clarity On The Federal Bail Out!
September 23rd, 2008 categories: Rants & Riffs
Forbes has a great summary of the proposed $700,000,000,000 Federal Government bank bail out plan. Below is the first of ten very clear observations.
“1. Who gets to participate?
The outlines of the plan call for the creation of either a branch of the Treasury Department or an independent agency to buy or take on troubled assets, with the goal of either selling them at a profit later or working them off. In past iterations of this idea, like 1989’s Resolution Trust Corp., failed institutions were the focus. The 1932 Reconstruction Finance Corp. lent $9 billion to ailing banks, thrifts, railroads, insurance companies and farm mortgage associations.”
CLICK HERE TO READ THE ENTIRE FORBES POST.
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