worse before it gets better?
Washington Post reports, the Director of the Congressional Budget Office warns that the bailout could cause things to get worse. Why? Because it might expose how bad things actually are under the hoods of the world’s financial powerhouses:
During testimony before the House Budget Committee, Peter R. Orszag — Congress’s top bookkeeper — said the bailout could expose the way companies are stowing toxic assets on their books, leading to greater problems. [more…]