Egad! Is the Government Going Socialist? No. It Only Looks That Way | This Can't Be Happening!

Ha, ha! Dave Lindorff writes: After watching the markets plunge and the credit freeze become glacial, Treasury Secretary Henry Paulson backed away from his scheme to rescue his investment banking colleagues by spending hundreds of billions of dollars buying up worthless credit derivatives. His new strategy: follow Britain’s lead and invest that same money--$250 billion for starters—into the banks as equity—specifically into the shares of nine of the country’s largest banks. ... Read more at This Can't Be Happening!