COMMENTARY: Mike Whalen
October 07, 2008
As if the federal government does not have enough to pay for, the recently negotiated bailout deal has further added to the government's tab. Understandably, the estimated price tag of $700 billion to buy the mortgage-based assets of struggling banks is leaving politicians and taxpayers alike shuddering. After all, the thought of plunking down taxpayer dollars to carry out what the private market should be doing in the first place (not including the $25 billion that will been doled out to the auto industry) just makes people wonder if government should be allowed to handle money at all.