Sunday, October 5, 2008

Wall Street financiers will have a hand in spending the $700 billion of taxpayers’ money

Bail-out leads to conflict of interest claims as Wall Street financiers cash in on crisis

New questions have been raised about the $700 billion economic bail-out of the US economy as President George W. Bush warned that the world may have to wait weeks for the benefits of the rescue package to be felt. Doubts about the package were fuelled when financial experts warned that conflicts of interest could arise because Wall Street financiers, many of whom have been blamed for causing the financial meltdown in the first place, will have a hand in spending the $700 billion of taxpayers' money.

Posted by malct @ 10:40 AM (499 views)
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2 thoughts on “Wall Street financiers will have a hand in spending the $700 billion of taxpayers’ money

  • planning4acrash says:

    The second bill was for $850bn – meaningless of course, because its an ever replenishing coffer.

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  • Oh geez, you’re kidding. Conflict of interest? Who would’ve thought. And here’s me believing that it was all well intended and they had a plan to help the people on “Main Street.”

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