Portland.CityJournal.us

This is a conspiracy theory. THEY are taking your money. Your kids and grand kids will pay the bill but don't be fooled, THEY have your money.

Let's see if we understand this. Some large banks stop inter-bank lending causing a credit crisis. At the same time Paulson, tells Bush he needs $700,000,000,000 (yes, that is a lot of zeros) to fix the credit crisis or the economy will tank.

A few small banks start failing, only to be bought up right away by the very same larger banks who had stopped inter-bank lending.

So in the end, a few large banks, who (as it turned out...) had plenty of cash on hand, got some great deals on buying smaller banks and their risky loan portfolios. Making it an even better deal, the government (read you and me) will buy back the risky loans making the portfolios worth much more.

So, the only ones who lose are those smaller institutions who were not in on the deal and the taxpayer.

Where did Paulson work before he came to work for Bush, yes Goldman Sachs. How did they do in all of this, just fine thank you.