The bottom line, however, is that the bailout – because of its unprecedented size – may set the parameters for the next administration whoever wins. The U.S. Treasury will be vastly expanding the national debt to buy up troubled securities that critics call “Cash for Trash.”
(The story summary continues below.)
Ron Blackwell, Chief Economist at the AFL-CIO, and Professor of Economics Ellen Frank of the University of Massachusetts, discuss the crisis.
TheRealNews.com is an independent news network that produces stories of global interest.
Consortiumnews.com
is a product of The Consortium for Independent Journalism, Inc., a non-profit organization
that relies on donations from its readers to produce these stories and keep alive this Web
publication.