Remember This: "The profits from Iraqi Oil Sales will Pay for the Iraqi Invasion and Reconstruction"

[Junkdrawer]

"The Taxpayers May Actually Make Money on the 2008 Financial Bailout"

Two, very, very similar lies for programs with very similar likely long term financial costs.

Why won't we make money on this deal? Three things:

1.) Paulson (and Dodd's) plan includes the purchase of bad credit card, auto loan and student loan debt. This would be pure gift, 100% loss. See: http://www.washtimes.com/news/2008/sep/23/student-car-debt-quietly-added

2.) Paulson is talking about buying the securities at near "hold-to-maturity" prices. He claims anything else wouldn't provide the needed liquidity and Congress seems to be swallowing this hook, line and sinker.

3.) Contrary to what you may have read elsewhere, there will be no attempt to unwind and fix the Mortgage Backed Securities. The government will simply hold them and hope they stabilize. If the economy gets worse, a fairly safe bet, the market value will go down.

This is strictly a gift to Wall Street based upon "Too Big to Fail".

[Junkdrawer]

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