From a similar article:
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The plan would give the government broad power to buy the bad debt of any U.S. financial institution for the next two years. It would raise the statutory limit on the national debt from $10.6 trillion to $11.3 trillion to make room for the massive rescue. The proposal does not specify what the government would get in return from financial companies for the federal assistance.
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1) 11.6 Trillion Debt? Wasn't the debt down to like $6 Trillion under Clinton? Yikes....
2) So the average middle class American is supposed to just be happy that bankers still have overpaid jobs? I have yet to see anyone who is responsible for this have to pay a price (other than in maybe stock options). You could be a CEO of one of these companies, bring the entire financial system to the brink of collapse and STILL walk away from it all with a multi-million dollar package while taxpayers foot the bill!?
When a country starts to consistantly privatize the gains and socialize the losses it is no longer a functioning ethical democratic nation. This is no different that what Russia would do. Just brutal.
Is it really a surprise that the Feds/Government/Treasury's very good personal friends, old school chums and/or political backers happen to be the very same people who will keep their jobs, livelihoods and money while the people most distant to them -- average hardworking but faceless Americans -- will not?
Claeren.