Sold To US Tax Payers for $700 Billion: Banks Bad Assets, by Martin Crutsinger:
The ultimate goal of the plan remains the same: buy bad mortgage-related bets from weakened financial companies so they can raise fresh capital and resume normal lending operations to businesses, municipalities and consumers.
Excuse me, "resume normal lending?" What was the kind of lending that created this fiasco? Normal? Abnormal? Aberrant? Criminal? Who is being rescued here? The regulators who looked the other way? The head of a subprime lender whose personal fortune is estimated at $1.5 billion, who donated $1 million to Bush and became Ambassador to the Netherlands? What exactly is normal in these circles? What will be resumed? Who is responsible for the rule of law, when the the people at the top are so self-serving? I ask with all due respect, eying the Heat Ray and wishing that resuming normal operations included restoring our Constitution and my rights formerly under law. But, I guess, the people in charge know what is best for us.