Once upon a Dime...
Oct. 1st, 2008 08:18 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
grindmonkehA lesson on the economy...from Ducktales.
Bankruptcy...not bailout. Here's why.
As reported by the New York Times:
"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.
"Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.
"At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees.
"Nobody wants to be left out of Treasury's proposal to buy up bad assets of financial institutions."
Even Rudy Giuliani is lobbying for his firm to be hired (and paid) to "consult" in the bailout.
And if you missed the debates...You can catch them here.
Bankruptcy...not bailout. Here's why.
As reported by the New York Times:
"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.
"Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.
"At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees.
"Nobody wants to be left out of Treasury's proposal to buy up bad assets of financial institutions."
Even Rudy Giuliani is lobbying for his firm to be hired (and paid) to "consult" in the bailout.
And if you missed the debates...You can catch them here.
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(no subject)
Date: 2008-10-01 04:36 pm (UTC)