Corruption in plain sight
Last updated 7/31/2008 at Noon
The Bush administration pushed for, and got, the biggest bailout in history of private shareholders, at taxpayer’s expense. The National Debt was raised $800 billion to cover it.
The banking and mortgage industries and millions of homeowners are in terrible shape. Foreclosure rates are at levels not seen since the Great Depression, and bank failure rates could reach Depression-era levels, if not for swift action by the government to bail them out, and even then it will be too late for many.
Last week Congress worked on a bailout plan that would help banks, mortgage lenders and homeowner...