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Author: SockPuppetMan Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1568  
Subject: Re: To all those against it... Date: 10/31/2008 3:50 PM
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Pulled from the article, A "no strings attached" policy by the government would be smart, because it allows banks to operate in areas they have the most expertise, one banking analyst said.

"I just don't think the public gets it, and certainly Congress doesn't get it," said Anton Schutz, president of money managers Mendon Capital Advisors Corp in Rochester, New York.

For example, a bank that receives $25 billion through the bailout program could buy $250 billion in asset-backed securities from Fannie Mae or Freddie Mac, Schutz said. "That lending may not be direct, it may be in purchasing securities, but that's helping to unfreeze the market," he said. "You got to let those companies do what is economically sound."

Exactly! If you're going to comment on this situation you should at least understand how banking works. Most people fail to understand the inner-workings of this. Scum-bag politicians like Frank should stick to what he knows, nothing.

-_- Alex -_-
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