Re: Bear Sterns vs ...taxpayers?

Kip Williams <kiptw@[EMAIL PROTECTED]
> wrote:
> David T. Bilek wrote:
>> On Fri, 28 Mar 2008 16:34:08 GMT, "Martha Adams" <mhada@[EMAIL PROTECTED]
>
>> wrote:
>> 
>>> The Feds went in and bailed-out Bear Sterns.
>>> This is interesting: would they have bailed
>>> out *you*? 
>> 
>> The WaPo is re****ting that the government is, indeed, preparing a
>> taxpayer bailout of people facing foreclosure.  So the answer appears
>> to be "yes".
>> 
>> Both bailouts are bull****;  people who were responsible with their
>> money and didn't participate in the greedmongering housing bubble are
>> going to be taxed to bailout people who tried to get rich quick or
>> took out loans they knew they could only afford if housing prices kept
>> increasing.
> 
> Apparently my retirement plan, which includes CREF, lost a pile of dough

> on Bear-Stearns. I don't know for sure, but I'll make a wild guess that 
> the bailout doesn't help me a bit or bring back a cent of that money.

It's an impressive dollar amount but insignificant compared to the size of
the fund. Having a general meltdown of the financial sector would be...
significant.

	Robert
-- 
Robert K. Shull                           Email: rkshull at rosettacon dot
com