What Amount Will the Government Pay for the Acquired Assets?
I have friends who are far more financially savvy than I am, and they say they are very frustrated with this bailout procedure. They say no one is asking the government what percentage of the dollar they are going to pay for these non performing assets? Is it 100%.....or 20 %? what is it? They say this is very important.
Does anyone know the answer?One more thing: The AP reports:
"The government could contract with private companies to manage the assets it purchased under the rescue" The proposal does not require that the government receive anything from banks in return for unloading their bad assets. But it would allow the Treasury Department to designate financial institutions as "agents of the government," and mandate that they perform any "reasonable duties" that might entail.The bailout, as we've mentioned before, would be sheltered from court review. There's something wrong with this picture. Care to fill in what it is?
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