The Democrats’ arrogance about dishing out bailout money continues full throttle.
They recently gave large credit unions $ 30 billion of guarantees.
“Friday’s moves include the seizure of three wholesale credit unions, plus an unusual plan by government officials to manage $50 billion of troubled assets inherited from failed institutions.”
By the time an Obama bureaucrat calls something a “troubled asset,” you can bet it’s a toxic debt.
Congratulations taxpayers! You now own another $50 billion of near worthless paper. The Democrats’ “financial reforms” didn’t fix any of this.
They only had two years and 15 months after the recession officially ended.