Saturday, September 27, 2008

More opinions on the bailout proposal

In favor of the bailout? From a fellow in his 40's in Oregon:

"Yes, I think it’s a good idea and I agree with Bernanke and Paulson that it should be unencumbered. However, the key to success is in the valuation of the assets. This should be done in a way to allow for fair current valuation, not the value the bank has it booked at. The taxpayer should have a reasonable, but not guaranteed, chance of making a profit on the purchase. The final bailout cost will be the purchase price minus the sale price minus administration and transaction fees. This will likely resemble the amount the taxpayer was on the hook for following the S&L debacle, or around 100 to 200 Billion."

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