Stephen H Baum Leadership

Unless Congress acquires testicular fortitude in the next few days, the taxpayer will become garbage collector and pay the “tipping fees” for our neighbors. 

The current wording of the bailout has the government buying ALL distressed assets (not just securitized mortgage bundles), from ALL financial institutions (hedge funds and other wild west entities) with little or no accountability or independent oversight and little reward for taking the risk. And, if Fed Chairman Bernanke has his way, we will be buying these assets above market price, paying fees in the bailout to the same Wall Street firms (and, in some instances, the same people) who took big bonuses for creating the mess and with no “disgorgement (giving back)” of compensation based on profits that vanished. For those who were too prudent to borrow money to invest in flawed derivative products or get mortgages and houses they could ill-afford, we will be paying the

Where is serious journalistic investigation by the media in all of this? You tell me.