Proposed $700 Billion Bailout Is Too Little, Too Late to End Debt Crisis; Too Much, Too Soon for U.S. Bond Markets |
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The proposal before Congress for a $700 billion financial industry bailout will not only fail to end the massive U.S. debt crisis but could actually aggravate the crisis by driving up interest rates, according to a white paper submitted to Congress and banking regulators today by Weiss Research, Inc. Therefore, Weiss recommends limiting and reducing the bailout as much as possible, while bolstering existing safety nets for consumers. Based on recently released FDIC and Federal Reserve data,
Filed under: Fundamental
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