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View Diary: Where the blank is Oversight in these bailouts? Suggestions:   (9 comments)

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  •  The Savings and Loan bailout with the RTC (1+ / 0-)
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    resulted in firesales at just a few pennies on the dollars.  Does anyone really think that non-performing mortgages are going to become worth something?  Ever?  Are you kidding?

    This is a transfer of private debt to the public.  We will all pay for it in inflation.  The nation will pay for it in further weakness of the dollar.  

    Now here comes where the other shoe drops.  When will other countries stop financing our debt?  When will we have an Argentina crisis?  

    •  We may be having our Argentina crisis now (0+ / 0-)

      Face it, WallStreet is about to be bailed out by the biggest debtor in the world -- the US Gubmint.

      At what point to other countries look at our debt sheet and say 'Hmm. Can the US taxpayer really pay off all that debt, especially with a whopper of a recession just starting.'.

      I don't begrudge the Rich-ublicans their fair share. But why do they have to take everyone else's too.

      by CitizenOfEarth on Sat Sep 20, 2008 at 05:57:34 AM PDT

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