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Politics : View from the Center and Left
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To: JohnM who wrote (92205)10/28/2008 8:54:13 AM
From: Steve Lokness  Read Replies (1) of 541604
 
John;

Things continue to fall apart

You have ruined my morning with this news. The most troubling line from the Krugman piece; U.S. Treasury’s bank rescue plan: it contains no safeguards against the possibility that banks will simply sit on the money. “Unlike the British government, which is mandating lending

Once again the Bush administration - and with the blessing of congress - has managed to screw this up. So the banks pay off their high interest debt and buy other banks with taxpayer money. Absolutely unbelievable.

steve
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