More Paulson Details - The American Spectator | USA News and Politics
More Paulson Details
by

Hank Paulson just announced the outlines of his rescue plan aimed at purchasing the bad mortgage assets that he said were “clogging up our financial system” so that capital can begin to freely flow.

He said this would require a “significant investment of taxpayer dollars,” in the hundreds of billions of dollars.

In addition, he said that Fannie Mae and Freddie Mac, as well as the U.S. Treasury Department, would increase purchases of mortgage backed securities.

So the bottom line is that there are these really crappy investments out there in the market that no private business would touch with a ten foot pole, so now the federal government will use taxpayer dollars to purchase them. Splendid.

Sign up to receive our latest updates! Register


By submitting this form, you are consenting to receive marketing emails from: The American Spectator, 122 S Royal Street, Alexandria, VA, 22314, http://spectator.org. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Be a Free Market Loving Patriot. Subscribe Today!