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Harry Reid: Significant Progress Made On Bailout Deal

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Harry Reid: Significant Progress Made On Bailout Deal Congress made significant progress on a financial bailout of Wall Street and the Senate's Democratic leader said Saturday he hoped to announce a deal by the end of the weekend. President Bush expressed confidence that lawmakers soon would pass a rescue plan before leaving Capitol Hill to campaign for re-election. He acknowledged that many Americans are frustrated by a situation that has led to a possible $700 billion bailout and angered that they may have to cover Wall Street firms' mistakes.

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organicsugr organicsugr 7 years
Capitalism has nothing to do with this bailout. I, for one, am just glad we're introducing socialism, finally.
justanerd1975 justanerd1975 7 years
no kidding us American's are upset by this! from the article: "Under the plan being considered, the Treasury Department would buy deeply distressed mortgage-backed securities. The money should help troubled lenders make new loans. The government would later try to sell the discounted loan packages at the best possible price...." these 'troubled lenders' who 'need' to make new loans should be punished by not being allowed to make any new loans, and if they fold then oh well! These are the same guys who lent monies KNOWING that the people they were lending to would not be able to pay the loan, and that they could make huge profits off of them. Now we bail them out?? All because America is a Capitolist society and we love business because it builds up our economy? I'm all for building up the economy, but in the long run, these wolves in sheep's clothing are not going to build us up in my opinion. They are more commited to making money off of American citizens than helping us!!! Chant with me: NO bailout! NO bailout! NO bailout!
justanerd1975 justanerd1975 7 years
no kidding us American's are upset by this! from the article:"Under the plan being considered, the Treasury Department would buy deeply distressed mortgage-backed securities. The money should help troubled lenders make new loans. The government would later try to sell the discounted loan packages at the best possible price...." these 'troubled lenders' who 'need' to make new loans should be punished by not being allowed to make any new loans, and if they fold then oh well! These are the same guys who lent monies KNOWING that the people they were lending to would not be able to pay the loan, and that they could make huge profits off of them. Now we bail them out?? All because America is a Capitolist society and we love business because it builds up our economy? I'm all for building up the economy, but in the long run, these wolves in sheep's clothing are not going to build us up in my opinion. They are more commited to making money off of American citizens than helping us!!! Chant with me:NO bailout! NO bailout! NO bailout!
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