Guardian: Public losses for private gain — The effective nationalisation of huge sectors of the economy means US taxpayers are picking up the tab for failing banks by Nouriel Roubini
“With the nationalisation of Fannie and Freddie, comrades Bush, Paulson and Bernanke started transforming the US into the USSRA (United Socialist State Republic of America).”
Politico: Paulson plan could cost $1 trillion By MIKE ALLEN
Congressional leaders said after meeting Thursday evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke that as much as $1 trillion could be needed to avoid an imminent meltdown of the U.S. financial system.
Paulson announced plans Friday morning for a “bold approach” that will cost hundreds of billions of dollars. At a news conference at Treasury headquarters, he called for a “temporary asset relief program” to take bad mortgages off the books of the nation’s financial institutions.
Filed under: The Government Engineered Mortgage Crisis , President Bush, economy, The Government Engineered Mortgage Crisis, socialism, economic ignorance, Fannie Mae, Freddie Mac, AIG, Henry Paulson, Ben Bernanke, Nouriel Roubini, nationalization
