The Proposed Golden Bailout Has Fundamental Flaws

September 2008
ENR: Engineering News-Record;9/29/2008, Vol. 261 Issue 10, p94
Trade Publication
The article comments on the proposed bailout of the financial services industry by the Bush administration. It notes that the proposal seems like a reward to private-sector firms that made bad bets in the housing-market bubble. It points out that the most offensive part of the proposed plan is to give U.S. Treasury Secretary Henry M. Paulson Jr. and his successor broad authority to buy up to $700 billion of compromised assets from any financial institution he decides. It contends that other parts of the plan are also flawed.


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