The head of the Treasury and the Federal Reserve began discussions on Thursday with Congressional leaders on what could become the biggest bailout in United States history. While details remain to be worked out, the plan is likely to authorize the government to buy distressed mortgages at deep discounts from banks and other institutions. The proposal could result in the most direct commitment of taxpayer funds so far in the financial crisis that Fed and Treasury officials say is the worst they have ever seen.
Let me see if I have this straight. After raiding the Treasury, and indebting us to China for the purpose of waging a bogus war, the Republicans are now using our very last few pennies to bail out billionaires from their own incompetence and corruption. And I love how the article makes a point of mentioning that this bailout is going to be funded with "taxpayer funds." What are we taxpayers getting out of this? Payback with interest? Unionized workplaces? National healthcare? What???