Bailout
So, bypassing the Senate Banking Committee, the Treasury just hit the taxpayer with a $15,000,000,000 bill for Bear Stearns. What a wonderful precedent this sets: I wonder what other privately held companies whose profits aren’t shared with me will be next in line? Oh, and a question: doesn’t this commitment of taxpayer money make us all shareholders in Bear Stearns? What’s my cut?
And the real question: what will the Congress, which has the power of the purse, do to stop this misuse of our money?
If individual homeowners aren’t going to be bailed out of their foolish investments with taxpayer dollars, why is Bear Stearns?
Privatize the profits, socialize the losses.
Leave a Reply
You must be logged in to post a comment.
