Taxpayers risked trillions at height of crisis

11-05-2009 • AP

Government officials put trillions of taxpayer dollars on the line to guarantee risky bank assets — a strategy that could cause permanent and costly market distortions, a government watchdog says.

At the peak of the financial crisis, taxpayer money guaranteed assets worth $4.3 trillion to help banks ride out the panic. The programs, which essentially provided insurance against losses, helped stabilize financial markets but put far more taxpayer dollars at risk than Congress intended, according to the Congressional Oversight Panel.

1 Comments in Response to Taxpayers risked trillions at height of crisis

Comment by William1950

Entered on: 11/6/2009 11:40:09 AM

Little thought is spent on the interest on your home loan. This interst makes that home cost three times its value. This means you pay the principal back plus twice that amount in interest.

You are getting ripped off with the permission of those you have voted for.

One simple way (oh, the banks, all investors, the Arabs and your government hate) is for a national decision by the government that all interest rates be cut in half. The banks still get the principal and that same amount in interest, you get three to six hundred a month of earnings in your pocket. That is billions each month that can be spent.

The one limitation is ten percent of that amount has to go to a federal bond account, payable in twenty years.

That is only one way to invest in America.

With that money in your pocket you might even demand MADE IN AMERICA and new manufacturing jobs would spring up.

middleamerican2010

Casey

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