Every hour of every day brings reams of fresh news reports and commentaries on the Wall Street crisis and the competing bailout proposals wending their way through Congress, but that doesn’t mean you can learn anything from most of them. Here’s a guide to the best, most comprehensible commentaries on the present mess.
This week in the Schultz Report, we discuss the only issue that matters at the moment–the financial meltdown on Wall Street and the Paulson plan that’s currently being bum-rushed through Congress, which would give the US Treasury secretary absolutely unprecedented power to buy up bad debt with public dollars, and without any public oversight or future public benefit in the form of equity in the companies we’re bailing out.
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