RD's Picks

In response to public concerns over the losses that taxpayer's may sustain under the Emergency Economic Stabilization Act, the government is pleased to announce a new financial instrument to protect the taxpayer.

Many financial experts have predicted the Federal Government will actually turn a profit purchasing distressed mortgage related securities and reselling them when markets have stabilized. However, many Americans are rightfully concerned about the risks inherent in purchasing these securities in a government-run program.

To help build confidence in the program and assure profitability, the Treasury, with the full support of Congressional leaders and the President, has decided to enter into profit insurance contracts modeled after popular credit default swaps.

These new financial instruments will be known as Responsible Insurance Policies On Federal Funds or RIP OFF.

Comments: View Comments |  Saturday October 4, 2008