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You have heard that its all "American Gambles"
You have been told repeatedly by George Bush and Henry Paulson that this bill is about a "rescue" of Main Street, not Wall Street.
You have been lied to repeatedly.
The bill The Senate intends to try to ramrod down your throat is neither about Main Street or really even about Wall Street.
You are going to get VERY angry. Sit down before you read further.
""Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen." - Brad Sherman , D-California"
That's right folks. You are going to have $700 billion - about 25% of the total federal budget - put on your personal credit card (via taxes forever) in order to bail out foreign investors.
Oh, and the best part of it is that the underlying assets involved do not even have to be in the United States!
Originally posted by redled
reply to post by sad_eyed_lady
Think foreign countries think that it's your markets that have poisoned global books, but there you go...... we're bailing you out to, if we did not underwrite and share your losses you'd have a 30's depression for sure.