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Get Rich Quick -- w/government help
Old 12-29-2008, 06:24 AM   #1
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Get Rich Quick -- w/government help

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"What is obvious to former R.T.C. officials is that, like the last go around, a great deal of money will be made [with the $700 billion bailout] by a select group of investors and business operators, particularly those with government contacts. The former government officials said in interviews that much of what is motivating them is a desire to help the nation recover from this latest stumble. But they acknowledge they intend to be among the winners who emerge.

“Fortunes will be made here, no doubt about it,” said Gary J. Silversmith, one of more than a dozen former R.T.C. officials interviewed who now are involved in enterprises seeking to profit from bank bailouts."

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Old 12-29-2008, 07:37 AM   #2
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I think the bailouts set an interesting precedent. When the bailout funds are exhausted and if the banks still need assistance what does the government do? They already made the case that they can't let the banks fail, so what happens? Do they keep throwing money at it until the banks turn themselves around or do they take 100% control of the institutions and take property from all of the share holders and call it a "modified bankruptcy"? I would think the latter would result in many lawsuits and a worsening of the economy.
You don't want to work. You want to live like a king, but the big bad world don't owe you a thing. Get over it--The Eagles
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