New Bank Bailout Could Cost _2 Trillion

Whatever it takes. Whatever. It. Takes. I’m referring to the new bank bailout plan that will cost between $1 trillion and $2 trillion, according to the Wall Street Journal. Consumers and businesses need access to more credit (debt). And, dang it, we’re gonna make sure that happens. That’s how I read the situation, at least. From the Journal:The administration is also seeking more effective ways to pump money into banks, and is considering buying common shares in the banks. Government purchases so far have been of preferred shares, in an effort to both protect taxpayers and avoid diluting existing shareholders’ stakes.A Treasury spokeswoman said that “while lots of options are on the table, there are no final decisions” on what she described as a “comprehensive plan.” She added: “The president has made it clear that he’ll do whatever it takes to stabilize our financial system so that we can get credit flowing again to families and businesses.”