700 billion dollars wall street bailout
Posted by: telemahos on
Sep 23rd, 2008 |
Filed under: Florida real estate, USA politics
The Bailout will allow the US government/taxpayers to buy securities at a discount hold on to them and then sell them for a profit.
These securities according to Mr Bernanke should be bought at an auction from the troubled institutions. Auctions traditionally put the seller in control because he is able to set his own terms for the sale. For example an absolute auction is the one sold to the highest bidder and it does not have any reserves.

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