There is nothing good to say about the Paulson Bailout Plan. Nothing. From a short-term technical perspective, from a government oversight perspective, from a conflict of interest perspective, from a political perspective, and from a long-term perspective, serious problems exist each step of the way. On a short-term technical perspective, problems begin at the price at which mortgage paper will be bought in the bailout. Treasury Secretary Paulson claims the paper will be bought at market rates. This is a myth, since if the Treasury were to only buy at the market price, the bailout would be superfluous. If there...
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