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Why Not Just Open a New Bank or Credit Union?

Can someone help me understand this? If the whole goal of this $700 Billion bailout is to forestall the failure of big lenders, which * wouldn’t be a problem for the deposits of any but the most ultrawealthy, since those deposits are already federally insured,

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If You Were Told You Had to Spend $700,000,000,000.00 …

If you were a member of Congress, and you were told you had to pass a bill to spend $700,000,000,000.00 on something, what would you spend it on? Would you designate someone without oversight or accountability to buy $700,000,000,000.00 worth of debts held by already

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Absolutely No Reform or Accountability in Bush Bailout

Section 3 is where these regulatory reforms and enforcement of accountability ought to be included. Yet, there’s not really anything there. Section 3 merely states that the Secretary of the Treasury will “consider” protecting taxpayers from the consequences of Wall Street’s gross ineptitude.

Psst... what kind of person doesn't support pacifism?