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Is the700 billion dollar bailout really needed?
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[QUOTE]Originally posted by wallymac: [QB] [QUOTE]Originally posted by glassman: [qb] don't take him too seriously wally... IMO? the bailout was voted down becuase it wouldn't have worked anyway, the 700 billion wouldn't fix half the bad loans, but the bad loans are only part of the problem... CDS's amount to a 42 TRILLION dollar market, that's where the "mulitplier effect" is hammering the banks and the insurance co's... [/qb][/QUOTE]Oh, I agree that the bailout will not fix the overall situation but taking no action at all won't fix it either. The problem I have is that IMO, it was voted down for purely political reasons. The Congressional Republicans finally say no to Bush. Too little too late. And they claim Country First. What a joke. Don't get me wrong the Dems aren't much better. [/QB][/QUOTE]
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