"Purchasing $1 trillion in toxic assets won't be enough to solve the banking system's problems; the program probably needs to be at least twice as large," said Mark Zandi, chief economist at Moody's Economy.com. The first half of the plan focuses on loans sitting on bank balance sheets. U.S. banks may be holding as much as $2.5 trillion of toxic assets that haven't been written down yet, Zandi estimated.
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We're socializing our democracy, turning our back on individual freedom and corporate accountability.
All that have done well are being sacrificed, along with their children, and grandchildren... arguably the rest of the world.
Organized crime is rampant, deliberate, and inconsequential to those orchestrating this catastrophe.
good analogy
The first half of the plan focuses on loans sitting on bank balance sheets. U.S. banks may be holding as much as $2.5 trillion of toxic assets that haven't been written down yet, Zandi estimated.