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Monday, September 15, 2008

Are the Feds done using our tax dollars to bail out Wall Street?

The U.S. government, which bailed out Fannie Mae and Freddie Mac a week ago and orchestrated the sale of Bear Stearns Cos. to J.P. Morgan Chase & Co. in March, played much tougher with Lehman. It refused to provide a financial backstop to potential buyers.


Isn't it a bit to late to worry about the taxpayer dollars now? The government bailed out Bear Sterns not long ago, took over some banks, and just last week bailed out Fannie Mae and Freddie Mac with $200 million, but this week the Feds are refusing to bailout Lehman. I am glad that the Feds are finally letting letting the free market work, but it really is not fooling anyone. It makes me wonder what the Government had to gain from the others and what it will not gain from bailing out Lehman.

Does anyone not find this a bit odd? Is no one else wondering?

Anthony

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