World-News

Tom Paine/Our Future
by Terrance Heath

03/31/08

Bear Stearns has been rescued, and its shareholders have been placated. Wall Street has several invigorating injections of billions of tax-payer dollars. Now that a great deal of public wealth has gone to prop up private wealth, maybe some of that public wealth can be used to help, well, the public. But only if the free market fundamentalists in the Bush administration stay out of the way, or trip over themselves while hurrying to offer their idea of a remedy. Clearly something’s up, because both the White House and Congress are racing to present plans to (finally) bail out homeowners stuck between impending forclosure. Congress is considering proposals. The Bush administration has ideas of its own. Treasury Secretary Henry Paulson’s plan to overhaul regulation of Wall Street is coming under particular scrutiny, because of how much it probably won’t accomplish...

http://www.ourfuture.org/blog-entry/bailout-america


Informant: Thomas L. Knapp



http://freepage.twoday.net/search?q=Bear+Stearns
http://freepage.twoday.net/search?q=bailout
http://freepage.twoday.net/search?q=foreclosure
http://freepage.twoday.net/search?q=Paulson