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Under the terms proposed [in the bailout plan], Bush’s initiative would permit large companies to emerge unscathed from the disastrous consequences of their own greed, but would not lend an ounce of aid to citizens who have lost their homes or are about to lose them, in the midst of the real estate crisis shaking the United States.
Last weekend, U.S. President George W. Bush sent Congress a $700 billion “bailout” proposal for the financial sector, in addition to the $285 billion from the Federal Reserve for mortgage lenders Fannie Mae and Freddie Mac.