Rescue plan seeks $700B to buy bad mortgages »
Posted By Pdlpublic 9 months, 3 weeks ago in Business & FinanceThe Bush administration is asking Congress to let the government buy $700 billion in toxic mortgages in the largest financial bailout since the Great Depression, according to a draft of the plan obtained Saturday by The Associated Press.
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tchef9 months, 3 weeks ago
I just love this, the banks sell bad mortgages that make no financial sense and we get to end up owning them to buy out the banks. What does this teach those who sold these mortgages? Go ahead, make the quick buck, the government will bail you out.
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brilliantman9 months, 2 weeks ago
The CEO of those bank make good money in their good time while people didn't enjoy anything from their prosperity. Now, when the business turned sour, average people have to bear the burden. Unfair.... or what is the right term???
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