Politicians keep lying about the bailout:
|It won’t cost more than $700 billion.||When have huge government programs ever cost as much as promised? NEVER! Paulson, et al, have hardly a clue what their bailout will cost, partly because…|
|The government will pay a fair price for troubled debts.||Nobody knows how to price these troubled debts. That means means that “we the people” will get soaked.|
|The government could make a profit.||Think about it: if loans will be profitable and that the companies can cover any losses, then why are we even buying these loans? That’s a sound market environment!|
|Financial firms will repay the government for any losses.|
Only one thing is certain about this bailout: the taxpayers will be screwed.
The economy may have to take a bitter pill. Don’t let the government screw it up worse!