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Heaping More Debt on the American Middle Class — 4 Comments

  1. Filling in for Rush Limbaugh on his radio show, Mark Steyn said, “We need to hold these government figures like Barney Frank and Nancy Pelosi to the same performance and accountability standards. The market will take care of the useless fat cat. The problem is the useless fat cat in Congress who is there as a permanent feature of life. Barney Frank is a far bigger problem for this country than any of these executives.”

  2. The Treasury secretary has made 174 purchases of banks’ preferred shares that include certificates to buy stock at a later date. He invested $10 billion in Goldman Sachs in October, twice as much as Buffett did the month before, yet gained warrants worth one-fourth as much as the billionaire, according to data compiled by Bloomberg. The Goldman Sachs terms were repeated in most of the other bank bailouts.

    Paulson’s warrant deals may give U.S. taxpayers, who are funding the bailouts, less profit from any recovery in financial stocks than shareholders such as Goldman Sachs Chief Executive Officer Lloyd Blankfein and Saudi Arabian Prince Alwaleed bin Talal, owner of 4 percent of Citigroup Inc., said Simon Johnson, former chief economist for the International Monetary Fund.

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