The bankers are laughing up their sleeves.
What Paulson has announced is this: he will establish a Federal agency to buy up what will amount to trillions of dollars of bad debt. The debt will become the liability of the US taxpayer. The bankers will get off scot free. The US will also insure investors in US money-market funds, which have seen significant withdrawals in recent days. >>>>>
When it appeared that the banking giants were going to lose their shirts; it got dumped right back onto us, and appears that we are going to lose our shirts. As we continue to swim in the proverbial river, while swallowing stones, at what point of the gurgling drowning sound will it trigger our brains that we got duped?