||"A historical political resource."
Taxpayers will bear the cost of Wall St. folly
|Contributor||Otis Gough |
|Last Edited||Otis Gough Sep 28, 2008 06:36pm|
|News Date||Thursday, September 25, 2008 02:35:00 AM UTC0:0|
|Description||If Joe Homeowner can't keep up with his payments and loses his house, he's pretty much on his own. |
If formerly blue-chip investment banks run by the smartest guys in the room can't keep their checkbooks balanced, the U.S. Treasury Department will rush in with a $700 billion rescue plan financed by the taxpayers.
And if that doesn't make you choke on your breakfast, you've got a pretty strong stomach.