Proposed “Troubled Assets Relief Program” Could Cost Taxpayers Dearly
While much of the talk surrounding Treasury Secretary Henry Paulson's $700 billion market-wide bailout plan has been speculation, many experts are estimating the total cost for individual taxpayers to be upwards of six-thousand dollars. On the flip-side of the coin, Liz Ann Sonders, chief investment strategist at Charles Schwab believes in the possibility that Paulson's quick-fix "ultimately may not cost us anything." She cited the Resolution Trust Corp. experience of the early nineties, stating that it may be possible for the government to actually turn a profit from this plan, as opposed to accruing further debt. This outcome, however, does…