US taxpayer to purchase the bad loans, relieving banks of responsibility.
WASHINGTON - "Treasury Secretary Henry Paulson says the bold approach needed to take troubled assets off the books of financial organizations will be expensive but doing nothing would cost far more."
Somehow this seems to be the most blatant rape of the American taxpayer of any in the last 8 years.
I, frankly, don't care if the banks go under. The depositors are protected. And if they are bailed out they will continue to insist that self-regulation is all that's required.
Ridiculous.
Arf