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I Read That The Dems Are Giving Up On The $50 Billion Fund To Prevent Future Bailouts By Taxpayers..

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global1 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-05-10 02:24 PM
Original message
I Read That The Dems Are Giving Up On The $50 Billion Fund To Prevent Future Bailouts By Taxpayers..
is this true? Did the Dems cave to Repugs on this or was I misinformed?
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sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-05-10 02:26 PM
Response to Original message
1. No, The Democrats have proposed that the banks themselves put up $50 billion to prevent taxpayers
from having to bail them out again. The $50 billion would be used to 'assist' other banks in trouble.
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Abq_Sarah Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-05-10 02:30 PM
Response to Reply #1
2. The money still comes from taxpayers
The government taxes the banks, the banks pass it along.
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sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-05-10 02:45 PM
Response to Reply #2
6. How does the bank 'pass it along'? Through fees? You know there are other options besides the
Edited on Wed May-05-10 02:46 PM by sinkingfeeling
'too big to fail' banks, like credit unions that don't have all those fees.

Doesn't matter anyway, since the proposal to have any pre-paid fund has been scraped.
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global1 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-05-10 08:46 PM
Response to Reply #6
7. Here's The Link To What Was Voted On Today......
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T Wolf Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-05-10 02:31 PM
Response to Original message
3. The pukes want us, the taxpayers, to bail out their bankster friends. The Dems
say they want the banks themselves to provide the funds.

Same old shit, different day and context.
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Cant trust em Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-05-10 02:37 PM
Response to Original message
4. This idea had tenuous support anyway.
The administration wasn't in favor of it either.
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gratuitous Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-05-10 02:41 PM
Response to Original message
5. Thank goodness!
Now that princely 1.25% interest rate on savings won't go down. Probably. Possibly.
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