Feds change course on using parts of the $700 Billion ESSA bailout funds to buy bad mortgages.
Bipartisan Heat
On October - 29 - 2008
As has been predicted, bonus are still going out to executives at failed or failing banks that have taken ESSA payments. As a result of a Guardian report, Congress has sent heated letters to Secretary Paulson over the level of executive compensation while banks, instead of lending money as was the purpose of the bailout, are buying other banks.
Let the good times roll.
