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What does the $700 billion bailout mean? - 9/29/2008 5:06:10 AM
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jordanasmith
Posts: 15
Joined: 9/22/2008
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Leaders in the US Congress have agreed to the underpinnings of a deal that will allow the Treasury Department to buy up to $700 billion in troubled securities to soothe global credit markets. The $700 billion in buying power would be doled out by Congress in stages. After the first $250 billion is authorized, the President could request another $100 billion. The final $350 billion could be cleared by a further act of Congress. But what does the bailout stand for? check full coverage on UTVi- http://utvi.myrecourl.com website.
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RE: What does the $700 billion bailout mean? - 9/29/2008 8:43:16 AM
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ekserekseez
Posts: 692
Joined: 7/3/2008
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It means that the government is rewarding people who used bad judgment and bought more than they could pay for. It means that the government can now legally steal my money, and probably yours too, to reward fraudulent gamblers.
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RE: What does the $700 billion bailout mean? - 9/29/2008 3:25:04 PM
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ta_mosquito
Posts: 11501
Joined: 3/31/2005
From: from MN, now in Ontario :D
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Please continue in THIS THREAD already in progress on this topic. Closing this thread.
Thanks!
Tricia
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