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Is the700 billion dollar bailout really needed?
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[QUOTE]Originally posted by Propertymanager: [QB] I would let businesses and homeowners all fail. If people paid too much for a house and can't afford it, then they should be foreclosed on. THEY made the choice to be reckless with their money and it's not my responsibility to bail them out. As I understand it, the problem is liquidity to keep business moving and people employed. The key to succeeding with this bailout is to provide liquidity for normal business operations (for profitable, responsible businesses) and to let all the overleveraged, bad apples go out of business. BTW, I know that business loans haven't completely dried up, because National City called me last night in an effort to loan me money. I asked the guy if he was CRAZY. Who wants to borrow more money in the middle of a DEPRESSION? I strongly recommend that everyone on this forum contact your congressman again today. I contacted my senators and my congressional delegation yesterday and am doing it again today. The squeaky wheel gets oiled and the citizens of this country need to squeak LOUD and CLEAR (and often), unless we want these big Wall Street firms bailed out. [/QB][/QUOTE]
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