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Dog-faced pony soldier
Join Date: Feb 2004
Location: A Rock Surrounded by a Whole lot of Water
Posts: 34,187
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"We need to pass this bailout or nobody will be able to buy homes..."
This is what Paulson and his ilk are saying this morning and essentially what GWB said last night. My question (and I haven't heard anyone else ask it yet) is, "wasn't that what the LAST bailout (the government takeover of Fannie/Freddie) was supposed to ensure DOESN'T happen? To guarantee that there's a supply of mortgages for qualified individuals so that the housing market doesn't literally go to $0.03 on the dollar?"
This just seems a huge oversight and I'm stunned that nobody else is mentioning it. Are the attention spans really that short? Will they forget about this $700B bailout in four or five weeks when another, bigger one is demanded?
We're screwed.
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A car, a 911, a motorbike and a few surfboards
Black Cars Matter
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