The thing I don’t understand about this whole bailout is that they want to buy all the debt, but I was under the impression that what was stressing the markets is that they did not know where the bad debt is, as it has all been bundled and re-bundled and so forth. If they know where the bad debt is in order to bail it out, how come they do not know where the bad debt is to let the appropriate institutions fail? What am I missing?
Also, I heard someone on CNN claim that the idea was to buy the bad debt and hopefully sell it later for a profit to taxpayers. I laughed out loud when I heard that one. If anyone thinks the taxpayers are going to make a profit on this deal, they should immediately be required to surrender their car keys and any sharp objects to the appropriate authorities, because they are a danger to themselves and everyone around them.
I just can not get over how brazen this money grab is, and that no one, and I mean no one, is going to pay a price.