Reader Comment of the Day

Or does this "Bank-Rescue Plan" sound a little fishy?

We the taxpayers are going to buy back 90% of the bad loans that these companies made and some "rich" investor is going to take a 10% stake in these Bad loans. Now the rich investor will more than likely be the same people that made the bad loans or invested in the mortgage derivatives that caused all the problems in the beginning.

1) Make bad loans due to government pressure and high profits.

2) Package the bad loans into an investment device and sell

them off to limit your risk.

3) Go to Uncle Sam for money to save your company because the

market went bad and the downside was bigger than you thought

4) Uncle Sam buys up all your bad loans to save your company

5) Purchase the bad loans from uncle Sam with little to no

downside risk to make bigger profits.

Now who pays for all your mistakes? - the US TAXPAYER.

and who gets rich at every step of the way? YOU who caused the problem.

What has happened to the leadership in this country?

Does this make any sense to anyone?

Larry of CA 10:10AM March 24, 2009