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Billions more needed for financial rescue

And the hits keep coming...

WASHINGTON – The Obama administration is developing proposals to help rescue the banking system that could cost taxpayers hundreds of billions of dollars beyond the $700 billion bailout Congress already has approved.

Details are still being worked out. But the administration is looking to spend hundreds of billions more to address the foreclosure crisis, help banks get out from under weighty bad assets and expand liquidity programs.
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I've got

a question. There has been talk of setting up an aggregator bank or "bad bank" to shore up toxic assets, if this bank is enacted does this mean that our current financial system is inefficient and nearing it's brink?

" Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master. " - George Washington

" Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master. " - George Washington

I read that story......I found it to be "stimulating". :)

Of course, now that the "stimulus" gets past the House....on its way to the Senate....we now find out what we already knew; that the cost of the malinvestments is a lot more than our "leaders" originally told us.
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"An economy built on fiat money is a society on its way to ashes."

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"An economy built on fiat money is a society on its way to ashes."

So, I've got a boat.

Anybody got a dock on some foreign shore where I can park it while this country goes down the drain?

Truth exists, and it deserves to be cherished.