Looks like I may own a bank soon!Well, part of it, anyway. Like, whatever slice my taxpayer share gets me. Oh, I won't own the preferred, voting stock. No, just common stock. I would have preferred the stock injection plan that over 120 of America's top economists recommended. But it looks like I'll have to settle for some crappy version, which amounts to nothing more than a cash grant to the banks.
In other words, another bailout. Well, partial bailout. But lots of them. This on top of the
- $85 billion dollar bailout of AIG
- (plus $38 million more to AIG)
- $700 billion dollar general bailout package
- $900 billion dollar additional cash injection into various financial institutions announced this week
- Treasury's announcement of "commercial paper" buys (short-term loans for businesses).
I wonder if I'll get a free toaster with my account?
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