Everything You Need to Know about the $700,000,000,000 Bailout
Treasury Secretary Hank Paulson:
“If we design it so it’s punitive and so institutions aren’t going to participate, this won’t work the way we need it to work,” Paulson, whose net worth is said to be north of $600 million, told Chris Wallace on “Fox News Sunday.”
Barney Frank (D-Mass.), chairman of the House banking committee
“Here is this absolutely essential program that’s needed to keep the economy going, but there are CEOs who won’t participate in it if a few of their many millions are going to get nicked? That’s really what he’s saying, that some CEOs put their ability to get unrestricted excessive compensation, including rewards for failure, over and above trying to cooperate and help the economy. If that’s true, we’re in worse shape than we think.”
Everything else you need to know you can find in six panels of this week’s This Modern World:
That’s just one panel. Click on the picture to read the rest…
