September 24, 2008
The Hill has a funny story about how Republicans in Congress really don't want to call this a bailout.
Call it an "investment." Call it a "stabilization plan." Call it a "structured rescue plan." Just don't use the B-word: "bailout."
My favorite quote:
"My constituents aren't calling and asking me to help their brokers," said Minority Leader McConnell.
I'd think not.
My daily reading from the Dalai Lama for September 25 says:
Anything that contradicts experience and logic should be abandoned.
Prescient words indeed.
It is a giveaway - these companies should have to pay this money back to the US treasury. Why should those of us struggling week to week to buy gasoline to get to work and groceries, have to "bail out" companies who paid CEO's millions of dollars?
I'm sorry, bailout, investment, financial stabilization process, doesn't matter what it is called, I still do not understand the specific what's, where's, who's, and why's.
$700B, OK, that much I get.
- What, specifically, are we the USA investing in?
- Where, specifically, are these investments and what is their current status.
- Who, specifically, decides where to investment my-your-our money & at what rate?
- Why, specifically, is money going to investment A and not B, you know what is the decision criteria, and how are these investments evaluated.
If this info is posted somewhere please advise.
thanks.
NPR thanks our sponsors
The bankruptcy of a small U.S. pension fund could have implications for other struggling funds.
A behind-the-scenes tour of the factory where paper for U.S. currency has been made since 1879.
"It's an un-obvious chunk of meat that has been sitting there..."
Correspondent
Contributing Editor
Correspondent
Correspondent
This graphic requires version 10 or higher of the Adobe Flash Player.Get the latest Flash Player.
This interactive content is not supported by this device.
Planet Money podcast player.
Comments
Discussions for this story are now closed. Please see the Community FAQ for more information.