Quick! We Must Rush to Give $700 Billion to Rich Corporations Because… the Dow Just Went Down 29 Points?
Help me understand this.
Help me understand why we must all be in such a rush to go into $700 Billion more worth of debt so that we can transfer that money to corporations that are already wealthy.
Help me understand why this is so important, considering that we’ll of course have to pay so much interest on the debt (again to already wealthy corporations) that the final burden will be well over a trillion dollars.
Help me understand why the Bush administration wants Americans to spend $700 Billion to buy bad mortgage debts from wealthy corporations, not at the market price but at the higher price equaling the imagined and completely counterfactual value those debts would have if they weren’t likely to be defaulted on and if the corporations kept them for the full 30-year term, which of course they’re not doing.
Help me understand why the need for a $700 Billion bailout when the Bush administration admits that the figure is “not based on any particular data point. We just wanted to choose a really large number.”
Help me understand why we have to rush, rush, rush to give all these already wealthy corporations and the already wealthy individuals behind them enough dollars to reach the Planet Venus and saddle the rest of us with more debt…
… when today the stock market fell 29 points?