Best, easiest to understand article I’ve seen on bail-out
Definitely check out this article yesterday from David Leonhardt at the New York Times about some of the stinkier aspects of Treasury Secretary Paulson’s bailout proposal (“Could Warren Buffett Negotiate a Better Deal for Taxpayers?” Sept 24, 2008).
One of the article’s insights:
Now, what would Mr. Buffett have said if Goldman asked for his money and wouldn’t let him share in the upside? “He would have said ‘no deal!’ ” said Daniel Alpert, of Westwood Capital, an investment firm. “And that is what Congress must say as well in defense of the American people.”
The article’s closing paragraph is especially a heartwarmer.
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