Reactions to story from Crooks and Liars » 2006

Billions From Heaven

http://www.crooksandliars.com/ 2008/ 09/ 26/ billions-...

I keep reading about the Republican Eric Cantor’s plan being better than Paulson’s Folly because it says banks, financial firms and other investors holding toxic mortgage securities would pay premiums to the Treasury to finance the insurance coverage. The idea is that institutions holding higher-risk securities would require higher premiums and the whole thing would involve the investment houses forking over instead of the taxpayer. Huh? This whole plan relies on most people thinking “insurance” just flies out of the heavenly spheres fully formed.

69 days ago

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