On the bailout
Granted, my knowledge of the ways in which Wall Street works are limited, but al this talk of a bailout has me thinking.
If some if not most of the huge $700 billion (!) bailout is going to be used to buy the morgages that banks like Lehman held–won’t that just wind up costing the taxpaer money? If some of these morgages are/were “toxic”, what good would it do for the gov’t to purchase them? Look what the did to the banks!
Any insight or clarification would be appreciated