I am horrified to point this out, but the stupid Sarah Palin mall line-stander supporter guy -- notwithstanding his inability to think of Henry Paulson's name -- had a kind of coherent answer to Nora O'Donnell's gotcha question. The so-called bailout *was* originally supposed to be used to establish a market-based mechanism for buying mortgage-backed CDOs and other toxic assets from the banks. Instead, the federal government did an end-run around this scheme an purchased direct equity stakes in the banks.
On David Cho: Sarah Palin and Destructive Internet Browsing
I am horrified to point this out, but the stupid Sarah Palin mall line-stander supporter guy -- notwithstanding his inability to think of Henry Paulson's name -- had a kind of coherent answer to Nora O'Donnell's gotcha question. The so-called bailout *was* originally supposed to be used to establish a market-based mechanism for buying mortgage-backed CDOs and other toxic assets from the banks. Instead, the federal government did an end-run around this scheme an purchased direct equity stakes in the banks.