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To: SE Mom

A part of this current economic crisis is like a pea-shell game.

A bank fails.

The FED sells the assets to another financial institution —at pennies on the dollar. That is a huge benefit for the buyer.

The FED assumes the debt. [That means, the taxpayers eventually get the bill.]


102 posted on 09/20/2008 7:55:26 AM PDT by TomGuy
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To: TomGuy

It’s a ponzi scheme- just like Social Security.

One thing I’ll agree with Barr on- we need to know WTH is going on behind closed doors this weekend and what they’re putting in this bailout legislation.


108 posted on 09/20/2008 7:58:38 AM PDT by SE Mom (Proud mom of an Iraq war combat vet-McCain/Palin 08)
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