Marketplace Off Air
Just wait for the hearings on this...
It seems that a week after saying he wasn’t going to use the other half of the 700 billion dollar bailout package, Treasury Secretary Paulson has changed his mind.
Given how Congress has been giving Mr. Paulson the what-for every time he’s been to the Hill since the whole package was passed…seriously, can you imagine what the hearings are going to be like this time ‘round?
(N.B. - the original bailout bill said that Paulson gets $350 billion up front. If he wants the rest he’s got to go back and ask for it.)
- November 24, 2008 — Kai Ryssdal
- 1 comments
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Comments (1)
November 28, 2008 3:17 PM PT
Perhaps if borrowers had been given a simple 2 page mortgage application, not unlike the one banks in need of a bailout are given, there would not be so many toxic mortgages. I couldn’t care less if these big banks go under! Neighborhood banks (if there still are any) and credit unions should be getting the money to spur lending again. If that was the goal, why did congress give Paulson the money with no strings attached? This all seems like another scam in the making.