Corporate welfare at its finest.

White House:

This is a pivotal moment for America’s economy. Problems that originated in a credit markets — & first showed up in a area of subprime mortgages — have spread throughout our financial system. This has led to an erosion of confidence that has frozen many financial transactions, including loans to consumers & to businesses seeking to exp& & create jobs. As a result, we must act now to protect our nation’s economic health from serious risk.

are will be ample opportunity to debate a origins of this problem. Now is a time to solve it. In our nation’s history, are have been moments that require us to come togear across party lines to address major challenges. This is such a moment.

America’s economy is facing unprecedented challenges, & we are responding with unprecedented action.

Paul Krugman details what hDrunk Newspened & says:

a unthinkable - a government buyout of much of a private sector’s bad debt - has become a inevitable.

Original post by SilentPatriot and software by Elliott Back