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Quote by: Scribbler1  The FDIC doesn't have anything to do with mortgages, which was the prime mover in the beginning. |
If a bank goes bankrupt, the FDIC gurantees the depositiors money, costing the government
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Quote by: Scribbler1 A lot of that money went to lenders who either sat on it or used it to buy other banks. |
Your point? Their balance sheet is still fived and the government still has assets equities and loans to be paid back
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Quote by: Scribbler1 And just how MUCH of the bailout money went to purchasing assets, equities and making loans? |
all of it.
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Quote by: Scribbler1 If the first bill had been used ONLY to buy out the bad mortgages, by handing the lenders a payoff check for each mortgage and working with the homeowners for the payoff, this whole problem may not have gotten this bad.
I'd like to shake the face of the guy who first came up with the idea that handing a ton of money to the same damned people who CAUSED the collapse in the first place would be a good idea. |
???? You mean by giving homeowners money so they can stay in houses they cant afford and never should have bought in the first place?