With Congress not exactly falling all over themselves with the Fed's plan to save the US economy I have some questions.1) Let's just say we don't bail out Wall Street, what is the likely scenario beyond the "it'll be really bad" line which only reminds me of an old Castlemaine beer commercial?
2) How does the proposed bailout stop the flow of mortgages going into foreclosure?
3) What about other financial commitments held by those in default? Presumably people who can't pay their mortgage will also default on their credit card, car, HELOC and other loans. Will we be bailing out GMAC and the like?
4) If companies receiving taxpayer's money return to profitability do we recoup the funds issued plus fair consideration for our risk?
These and many other questions we are left to ponder upon Grasshopper.
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