Tuesday, October 27, 2009

Stealth Bailout of Commercial Mortgages

http://www.mybudget360.com/the-doctrine-of-preemptive-bailouts-and-the-biggest-bailout-you-havent-heard-about-the-us-treasury-plan-c-and-the-35-trillion-you-will-be-paying/

Link for an analysis of a Treasury "stealth" plan for a bailout of the imploding commercial mortgage market.

I find it outrageous that nearly every major commercial industry/sector in the economy is eligible for a tax payer funded bailout but the states are allowed to collapse as their tax revenue decreases.

The government is bailing out banks, investment banks, AIG, and various insurance companies. Now it plans to bail out commercial real estate.

But the states are offered nothing and are forced to cut funds for education, domestic violence shelters, programs for poor families, etc.

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