Yes, there could be profits made with the taxpayer-backed bailout funds for the mortgage-backed securities.  The government would be buying them at a discount, likely, and most folks don’t default on their mortgages. 

So who should get the profits?  How about, oh, the taxpayers?  It’s only fair; they (we) took the risk, they (we) should get the benefits.  But Washington Democrats, true to their view that any money in their vicinity is theirs (not the taxpayers), are already trying to lay dibs on it to fund other government programs.  They can’t even try to help the economy without sneaking in what amounts to a 20% tax.

Thanks, guys.

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Filed under: Doug • Economics & Taxes • Government

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