Federal plan 'a disaster in the making'

Commentary: Ramifications could span decades

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The Treasury and Federal Reserve to date have doused financial fires at Bear Stearns, Fannie Mae, Freddie Mac and AIG, taking a tough line in every case to protect taxpayers. In the case of AIG, for example, the government has the right to acquire a major equity interest in the firm as a quid pro quo for a loan of $80 billion, and the CEO was forced out.