WASHINGTON -- In what could be the biggest bailout since the Great Depression, top government officials and congressional leaders agreed late Thursday to quickly develop a comprehensive plan aimed at defusing the nation's roiling financial crisis.
The plan would "relieve financial institutions" (quotes mine*) of the mortgage-backed securities and other bad assets that are threatening the nation's economic health.
*This is a nice way of saying, dearest taxpayer, that you are going to be on the hook for all the shit in their portfolios.
Repeat after me: Privatize the profit/Socialize the risk.
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