Sec. 3. Considerations.
In exercising the authorities granted in this Act, the Secretary shall take into consideration means for--
(1) providing stability or preventing disruption to the financial markets or banking system; and
(2) protecting the taxpayer. (Actual text from the proposed financial bailout plan)
I would suggest that after $85B for AIG and $700B for basically whatever, protecting the taxpayer should be the first priority.
A crushing but meaningless blow.
20 September 2008
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