"Bank Rescue May Cost $1T" is from the March 23, 2009 edition of the Express. The Obama administration wants to create a new government agency, the Public-Private Investment Program, that would be tasked with buying up toxic assets. The price tag could total up to $1 trillion. That's a lot of zeros. I've never understood how the government can spend money when it owes so much in the first place. I'm a bit uncomfortable with using tax payer money to buy up bad loans, but I honestly don't know what would work at this point.
Monday, March 23, 2009
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