The size of this potential bail-out (all funded by debt - that means we'll (and I'm including your children in that we) be paying for it for the next 50 years through our taxes) is making me physically ill.
Privatized profit and socialized losses are what we are looking at. And that is clearly unacceptable. The only way to do this is to swap this terrible debt (at prices well below book value) for majority equity stakes (i.e., control).
Write your Representatives and your Senators and voice your opinion.
An Open Letter to Secretary Paulson.
1 comment:
"Privatized profit and socialized losses"
Great line. In the meantime lobbying influence must be kept in check.
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