Are you f**king kidding me? I can't wait to see how much more Wall Street's problems are going to cost us. Go back and pick their goddamn pockets of every cent they've made in recent years and then come back and ask us. This is one of the most sickening periods in American history and McCain wants us to somehow believe him when he tells us he can take care of it. You know, just as he did for the Keating Five S&L crisis. Just as he did with Phil Gramm, close confident and economic brain. We sure as hell better get out pound of flesh from Wall Street for this historical disaster. Tax cuts for the rich? Hell. They can all go Cheney themselves.
Treasury Secretary Henry Paulson is working on setting up a government facility to take on bad debts from financial institutions to prevent a worsening of the global credit crisis, Wall Street sources have told CNBC.
The facility would be similar to the Resolution Trust Corporation, which was set up in the late 1980s to take on all the failed thrift assets during the savings and loan crisis, these sources said. [Chris's note: HINT, HINT...McCain and Keating Five, anyone?]
The news sparked a big rally in stocks after a day in which investors remained nervous about the spreading effects the global credit crisis. Europe and Asia closed lower.
