Tuesday, April 01, 2008


UBS. Deutsche.

In another press release,

Treasury Department to Backstop Markets

APRIL 1,2008 (NEWS SERVICE) Treasury Secretary Henry Paulson announced today that the Working Group on Financial Markets has determined that Treasury will step in whenever the S&P Index drops below 1320.

“We can’t have Wall Street bankers shoulder all the responsibility for keeping their bonuses intact,” he said. “The great American system is in a position to guarantee profits and the federal government will absorb all losses incurred by the top one per cent of the population by income,” he concluded.

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