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Debating a Financial Bailout
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Who holds this debt? Much of it is held in mutual funds owned by average investors. Much is held by pension funds that will support the retirement of U.S. workers. Much is held in portfolios backing endowments at educational and charitable institutions.
It's not just fat cats who are benefiting. Many average taxpayers are the beneficiaries. We should be happy our government officials are wise enough to see the potential consequences and bail us out.
D. JAMES CROFT
Great Falls
The writer founded the Reston-based Mortgage Asset Research Institute.
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We need to state accurately who is likely to pay for the $700 billion Wall Street bailout: our children and grandchildren.
