Paulson - treasury won't buy toxic assets after all!

[Ecomike]

http://online.wsj.com/article/SB122650321703420903.html

[IslanderOffRoad]

Great, so the wal-streeters get to keep that money to spend on hookers and blow, nothing gets solved, and we all get anally raped for it.

I knew this bailout was a terrible idea. I hope that Obama doesn't approve the remainder of the 700bil.

[Ecomike]

Great, so the wal-streeters get to keep that money to spend on hookers and blow, nothing gets solved, and we all get anally raped for it.

I knew this bailout was a terrible idea. I hope that Obama doesn't approve the remainder of the 700bil.

I don't what to think of it yet, but if the banks survive, the bail out has gone to preferred stock shares that the Treasury can sell someday for more than they invested, thus tax payers will profit. On the other hand if it fails, were all screwed anyway:bawl:.

I am concerned how people and the markets will handle the news since consumer confidence seems to be the big do or die issue now. :banghead:

[tharlanjr]

So are they just keeping the money?

I thought they were going to not give it to the big corps, but try and save homeowners...

Isnt that what everyone wanted?

Help the people who got in over their head?

Dow dropped about 350 today...

[Tom R.]

I don't (know?) what to think of it yet, but if the banks survive, the bail out has gone to preferred stock shares that the Treasury can sell someday for more than they invested, thus tax payers will profit. On the other hand if it fails, were all screwed anyway. :bawl:

If the Treasury does happen to sell for more than what was invested, do you honestly believe the tax payers will profit? Knowing how politicians operate, that money will go to unnecessary earmarks.

[red91]

So are they just keeping the money?

I thought they were going to not give it to the big corps, but try and save homeowners...

Isnt that what everyone wanted?

Help the people who got in over their head?

Dow dropped about 350 today...

Actually 411.

Thanks Barack.

Smell the confidence yet?

[ECKSJAY]

C'mon hyperinflation! w00t!