I was browsing through the full text of the bailout plan and this part caught my eye: For the purpose of the authorities granted in this Act, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, […]
Tag: economic meltdown
Banker Bailout = Welfare for the Wealthy
By now, I’m sure everyone has heard about the US plan to stick American taxpayers with the bill for bank bail-outs to the tune of $700 billion. It’s hard to put that kind of money in perspective, so I’ve been trying to think of other things that have cost the US $700 billion. As it […]