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The proposed bailout plan is a sellout of the American public
Clusterstock has the gory details. Here’s their rundown of two of the most loathsome provisions. “Preventing Unjust Enrichment”: Treasury can’t pay more for the crap assets than the banks bought them for (a horrifying possibility, given that most of the securities have already been written way down). This provision, however, doesn’t apply to banks who … Continue reading The proposed bailout plan is a sellout of the American public