bailout
Money Talks, Politicians Listen
Micah L. Sifry, 03/17/2008 - 3:55pm

I wondered what the presidential candidates and other politicians were saying about the Federal Reserve's unprecedented interventions in the financial sector, including today's provision of $30 billion to guarantee JP Morgan Chase against the risks it will incur as it takes over Bear Stearns for pennies on the dollar (and inherits its subprime portfolio).

It's not that often, after all, that the government decides to socialize someone else's losses--I can't remember many manufacturing businesses or agricultural businesses that were deemed "too big to fail." So, while looking for their public statements from today, I also went online to follow the money trail a bit further.

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