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A-train railing against free-market realities. Okay, so it’s not truly a free market, but there are limits to what banks receiving funds under TARP can do; limits designed to protect the American taxpayer as a senior investor (the investments are in preferred securities after all), whilst not placing excessive limits on free-market flexibility for the [...] Without a Bailout Plan, What Will the Cost Be? – TIME By voting down the proposed $700 billion financial bailout package — and causing a spectacular stock market rout — a majority of members in the House of Representatives made a clear statement that they didn’t want to put taxpayers on the hook for the [...] This nation’s economy is fucked … Republicans created this mess, Republicans came up with a solution to this mess, and yet Republicans are refusing to fix this mess, even though almost every thing the members of the House that revolted asked for was included in the bill being presented and voted. What are they thinking? [...] From the New York Times: Bailout Plan Stalls After Day of Talks; Paulson Heads Back to Capitol Hill – NYTimes.com WASHINGTON — The status of a rescue plan for the nation’s financial system was in doubt on Thursday, at least for the moment, as lawmakers emerged from a meeting with President Bush to say that [...] |
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