Lordy, the Treasury Secretary has spoken and in a nutshell “you the taxpayers are going to bailout the big boys.” Henry Paulson said the alternative was a complete collapse of the financial system, when phrased like that his plan doesn’t seem to bad. And, with that the markets have raced up 4%. Of course the taxpayer is already suffering from “massive mortgage syndrome” so I’m not sure where we are supposed to pony up the extra dough for this.
…provides broad federal authority to clean up releases or threatened releases of hazardous substances that may endanger public health…
The above was the mandate of the government sponsored Superfund back in the 1980’s to protect people, families, communities and others from heavily contaminated toxic waste sites that have been abandoned. Yup…that sounds like what is happening right now.
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