The proposed text for the $700 billion bailout does not seem to have a ceiling?
Sec. 6. Maximum Amount of Authorized Purchases: The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time.”
At any one time: Doesn’t that mean they can lend out $700 billion each year, month, week or day, effectively, until the two year limit is up?
It’s the law of supply and demand. The more we increase the money supply the less it’s worth. So, the appointees and lawmakers that neglected common sense to keep CEO’s in their jobs, with their salaries at taxpayer expense. If the taxpayers have to pay for it, why don’t they get stock in these companies?
As to the assets of the bailouts to be owned by the government, how many of them are already distressed?
We all need to get closer to the truth of what this means
http://www.nytimes.com/2008/09/21/business/21draftcnd.html?ref=business
http://www.foxnews.com/story/0,2933,425672,00.html