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Wall Street Bailouts

By Mark H. Astarita, Esq.

There is, of course, much talk about the past, pending and proposed "bailouts" of Wall Street and AIG, and I have consistently taken the position that these bailouts are not actually bailouts, they are in effect, guarantees by the government. Not one taxpayer dime has been spent in these "bailouts."While I am still undecided about whether these guarantees are the right thing to do, the new, and true, bailout is coming down the pike. The Bush Administration is working on a $700 BILLION dollar bailout...a true bailout. There are about a trillion things wrong with the proposed bailout, including the fact that Wall Street executives are going to be hired as consultants to decide which of them get the money, but the most outrageous part of the package is the soon-to-be-infamous, Section 8...continue to full post

Full post as published by SECLaw.com on September 23, 2008 (boomark / email).