This NYTimes story about creating a federal agency to buy bad debt is a bit of economics by retards.
Yes, let's bail these companies out and ignore the people getting kicked out of their homes. Let's reward the morons who dreamed up the insane risk of issuing too many subprime mortgages and assuming that the real estate market would never falter.
And according to John McCain, the fundamentals of the economy are strong. Hmm...as Paul Krugman notes, the last person to say that...
Hoocoodanode?
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