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Originally Posted by dalakhani
Anyone who paints this as anything less than a bailout is being disingenuous and i hope i didnt come across that way. I think the tax payer can make money on this IF, big IF, they value the assets properly. Even so, it is still a "bailout" because any plan would require the govt to purchase the assets at above market prices. Before everyone starts crying, remember, market right now on a lot of those assets would be like 20 cents but thats simply because the market is an injured lion in the desert and the buyers are the circling vultures.
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Therein lies the problem. No one even trusts the government with a tiny if, not to mention a big IF. The chance of us ever seeing that money if Obama is elected is 10%. If McCain is elected it is 0%. Sounds like a great deal. Where is the negotiator for the taxpayers in all this?
10-01-2008, 12:59 AM
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