Gotta little extra information from NPR on this new bailout

[AllentownJake]

Banks can buy each other's toxic assets. So essentially you are going to see a toxic asset swap where during the swap the banks get an insurance policy that minimizes their losses and lets them keep their profits.

That's Change I can Believe in

:sarcasm:

[fasttense]

1. Yes, but once Obama realizes Giethner's plan has not created any jobs,

He will finally start implementing Good plans. See, he will have run out of bad ideas... I hope.

[AllentownJake]

2. Sure after burning through another trillion

There comes a point you don't have another trillion or the political capital to burn through.

[BeFree]

4. Heh

"Run out of bad ideas" Ain't that the truth?

The whole premise of our financial society was based on one bad idea after another.

The idea of endless growth. Idea that borrowing money was sustainable.
Idea that the environment rides in the back, never to be heard or seen.

We've pretty much reached the end of the bad ideas, I hope. Can you think of anymore we haven't learned from yet?

[AllentownJake]

5. We can return to serfdom and slavery I guess

:shrug:

[lxlxlxl]

3. Wall St. Wins

No Nationalization, Zombie Banks stay alive, No accountability of past mistakes, Continued execessive pay, and maybe they tanked national health insurance in the process...wall st wins again

[Skwmom]

6. Hmmmm. somehow this all seems so familiar........