Relevant:
- Taxpayers May Be Liable From Bear, Mortgage Rescue
- Taxpayers Forced to Cover Risk of Banks' Folly
- All Is Well in Stepfordville: More on the Pre-election Chicanery of the Plunge Protection Team
- Baltimore Sun: Ron Paul, saving taxpayers from the GSE time-bomb
- UK Acts To Prevent Collapse Of Banking System
2008-03-17 — rawstory.com
"But," pushes Wallace, "isn't the result of this that U.S. taxpayers might end up holding billions of dollars in bad mortgage securities?"
"I'm not going to speculate about the outcome of this specific situation," reiterates Paulson. "You're going to have to wait and see. Conversations are going on--over the weekend--I'm very involved in those conversations."
OK, let me see if I understand this correctly: its OK to bail out Wall Street, putting taxpayers at risk, because we need to "wait and see" if the taxpayers end up having to cover a huge loss?
In other news, reckless driving is now OK as long as you don't actually kill anyone.
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