Sunday, October 5, 2008

What Now!

After an initial and shocking failure, elected representatives spent most of the week scurrying to come up with a "better" version of Treasury Secretary Paulson's plan to use up to $700 billion in taxpayer funds to buy up bad mortgage and financial assets. In the end, the tab could run as high as $810 billion, with hopes that some of the assets can be resold back into the market for a profit. Of course, this assumes there will still be a market for them -- or any market at all -- when it's time to sell them

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