Govt says bank bailout will require private money?

This from International Herald Tribune:

“Administration officials said the plan to be announced Tuesday was likely to depend in part on the willingness of private investors other than banks — like hedge funds, private equity funds and perhaps even insurance companies — to purchase the toxic assets that wiped out the capital of many banks.

The officials say they are counting on the profit motive to now create a market for those assets. The government would guarantee a floor value, officials say, as a way to overcome investors’ reluctance to buy them.”

Say what? So the Obama Administration and the goons on the left are all crying that it was greed and the profit motive that go us into the mess and now they are saying it will get us out? If they really thought this then why not leave it alone? This is like a liberal saying that the hunter shot and killed the bear but that we will depend upon him to repopulate the bear population.

This is so ridiculous and I really wish that the lefty’s would give Obama a hell of a time for this. I mean I personally think the profit motive didn’t get us into this and would get us out of this but seriously this is what they are saying now?


Published in: on February 11, 2009 at 1:13 pm  Comments (1)  
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One CommentLeave a comment

  1. Nice info! Very cool post.I have looked over your blog a few times and I love it.

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