From CNBC, here is the Treasury’s financial crisis balance sheet, as of last Wednesday:
That’s 4,284.5 BILLION dollars, or $4.2845 TRILLION.
And not a single dollar for infrastructure repair or job creation.
Time for shrillness, anyone?
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I never thought I would see the day when the Secretary of the Treasury in a right wing Republican Administration would heed the advice of someone like Barney Frank, the only Socialist member of Congress (who has been saying this very thing for a year now):
Fighting the Financial Crisis, One Challenge at a Time
By HENRY M. PAULSON Jr., NYT, November 17, 2008
The answer to the second question is that more access to lower-cost mortgage lending is the No. 1 thing we can do to slow the decline in the housing market and reduce the number of foreclosures. Together with our bank capital program, the moves we have made to stabilize and strengthen Fannie Mae and Freddie Mac, and through them to increase the flow of mortgage credit, will promote mortgage lending. We are also working with the Department of Housing and Urban Development, the F.D.I.C. and others to reduce preventable foreclosures.
Actually Barney Frank is a Democrat. Bernie Sanders (Senator from Vermont) is a Socialist.