"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Feds May Bail Out Banks
Submitted by Robert Kaercher on Mon, 2008-02-25 17:00
"Bank of America suggested a new 'Federal Homeowner Preservation Corporation' that would buy up billions of dollars in troubled mortgages at a deep discount, forgive debt above the current market value of the homes and use federal loan guarantees to refinance the borrowers at lower rates." (Editor's pick)
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