The Mortgage Bailout
Donald Trump was on FoxNews and CNBC on Tuesday and he talked about how strict they are being with the auto makers and how they made the CEO’s look like idiots driving for 2 days in hybrid cars. This is probably fair but what isn’t fair is how they allow the banks to do whatever with the bailout money. One bank bought a bank in China for $6 billion dollars. The auto makers need to come up with a plan but aren’t the banks the one who caused this mess? The WSJ reported that the panel overseeing the Treasury Department’s $700 billion financial-rescue fund is expected to release a report Wednesday that is highly critical of the government’s handling of the bailout, people familiar with the matter said. It will also press the Bush administration to act more aggressively to prevent foreclosures. The roughly 30-page report is also expected to press Treasury to describe whether the money used to inject capital into the banking sector is a “giveaway” or a “fair deal,” according to one person familiar with the report.