Paulson wants to use the money to have the government buy equity stakes (stock) in financial companies. Does anyone see the absurdity in this?
One person in the article does...
Dubitsky believes that the Treasury should have stuck to its original intent and bought up mortgage assets; not only would that improve mortgage markets, he argues the government would then be positioned to finally develop a more standardized national approach to loan modifications, and to do a more effective job of managing the often deteriorating real estate that's now piling up on the market due to the wave of foreclosures.
Paulson needs to get a brain. Can't we find someone that is a bit more qualified? Why did Congress give carte blanche power to one person to decide what to do with the $700 billion??? It is the height of insanity...
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