U.S. Treasury Secretary Henry Paulson speaks to the media regarding the failed Congressional bill to bailout Wall Street at the White House in Washington, D.C., September 29, 2008.
I got an e-mail from a reader late last week with a bunch of very good questions about the bailout bill. I hadn't quite finished answering them when it was voted down in the House Monday. But since some version of the plan is likely to be resurrected later this week, I figured I should go ahead and finish.
Where will the $700+ billion go? What exactly will it buy and from whom?
That's the, uh, $700 billion question. Mortgage-backed securities were to be the main target, and banks the main sellers. But Hank Paulson...
