PatriotG
Member
- Joined
- Oct 28, 2007
- Messages
- 1,301
http://news.bbc.co.uk/2/hi/business/7625727.stm
Thats Right
We bail em out, They walk away with their golden parachutes. History does repeat itself, and we never learn.
Welcome to the USSA. United Socialist States Of America.
"US Treasury Secretary Henry Paulson has confirmed that the government will introduce a plan to remove bad debt from US banks' balance sheets.
He said such a "bold" move was necessary so credit could flow to companies and consumers and restore the health of the financial system.
President George Bush added the US was facing "unprecedented challenges, we're responding with unprecedented action".
Legislation for the plan will be pushed through as soon as possible, he said.
The details will be thrashed out with members of Congress over the weekend.
Once this difficult period is over, he said the government's next task would be to overhaul bank regulations.
Bail-out plan
Mr Paulson said that the programme must be "large enough to have maximum impact" and will involve "a significant investment of taxpayer dollars". But he warned that it will be far less costly to American families than the alternative scenario."
What is the alternative? Let me hear it! Your primary solution is turning my stomach, so how bad could the alternative be?
Is it "Let the free market prevail, and let these firms run by greed, fail?"
I choose the alternative.
Thats Right
We bail em out, They walk away with their golden parachutes. History does repeat itself, and we never learn.
Welcome to the USSA. United Socialist States Of America.
"US Treasury Secretary Henry Paulson has confirmed that the government will introduce a plan to remove bad debt from US banks' balance sheets.
He said such a "bold" move was necessary so credit could flow to companies and consumers and restore the health of the financial system.
President George Bush added the US was facing "unprecedented challenges, we're responding with unprecedented action".
Legislation for the plan will be pushed through as soon as possible, he said.
The details will be thrashed out with members of Congress over the weekend.
Once this difficult period is over, he said the government's next task would be to overhaul bank regulations.
Bail-out plan
Mr Paulson said that the programme must be "large enough to have maximum impact" and will involve "a significant investment of taxpayer dollars". But he warned that it will be far less costly to American families than the alternative scenario."
What is the alternative? Let me hear it! Your primary solution is turning my stomach, so how bad could the alternative be?
Is it "Let the free market prevail, and let these firms run by greed, fail?"
I choose the alternative.
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