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Reply #62: "The proposal does not specify what the government would get in return from financial companies" [View All]

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antigop Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 10:35 AM
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62. "The proposal does not specify what the government would get in return from financial companies"
http://rawstory.com/news/2008/Rescue_plan_seeks_700B_to_buy_0920.html

The plan would give the government broad power to buy the bad debt of any U.S. financial institution for the next two years. It would raise the statutory limit on the national debt from $10.6 trillion to $11.3 trillion to make room for the massive rescue. The proposal does not specify what the government would get in return from financial companies for the federal assistance.


We'll get nothing but a pile of debt, and the elimination of Social Security and Medicare.
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