Another Washington insider who thinks we're stupid.
I listened to some clips of Henry Paulson's testimony to the Senate Banking Committee. When Senator Dodd asked him about the burden the taxpayers would carry with the proposed plan to extend government backed financial assistance to Fannie Mae and Freddie Mac, Paulson skirted the question simply saying said it would be done "under terms and conditions that protect the U.S. taxpayer."
Later, because he managed to slither out of actually answering the question put to him---how much this plan would cost the American people, Senator Shelby put it to him once again--and
Paulson answered in such a way that gave absolutely NO numbers. Sure because it's going to cost billions of taxpayer dollars to back these loans.
So basically we're giving Fannie Mae and Freddie Mac a blank check?
When is the last time a creditor of yours offered you such a great deal when you were behind on your payments?