So, seriously ...
1) Raises the FDIC limit from 100k$us to 250k$us, how much of a liability is that for the tax payer ? No idea.
2) No more Mark to Market, and I don't know what they are going to do instead, anybody know what the new valuation method will be ? Or maybe they are just going to let banks decide for themselves if they have enough money to cover it ? Who knows, anybody ?
3) 100b$us in tax breaks. Well, hey, you know, it's not like the government is spending money it gets from taxes anyway, everybody knows taxes would never cover this (%*$^#^ .. so why not throw in a tax break. I don't know why they want us to pay taxes at all, let's just do away with the whole idea and borrow everything we need, or even better, let's just get the Fed to print it ... Yes, the government can write treasury bonds, and then the Fed can buy them, simple.
4) ... (?) ... Did anybody actually read the whole thing ? I know there was something in there, in the footnotes, about saving banks or something, mortgage something or other ...
I love what headline on this articles calls it, "Bailout with
'sweeteners' heads towards Senate win" ..
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