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...and if/when the rescue bill has passed, can we go back to calling it what it is?
A BAILOUT OF WALL STREET!
Mortgage Backed Securities have been around for years; regulation has been laxed. But Credit Default Swaps are a new invention by WALL STREET, estimated at $55 TRILLION today, that have gone unregulated, sliced and diced and dealt throughout the world economy like cards at a poker table. Wall Street placed bets, people made fortunes, then walked away from the table. Those who took their seats at the table tried to play the same game, but got dealt bad hands and now are broke.
I understand that we have to save American jobs and free up credit. I also understand that we have to BAILOUT WALL STREET in order to do this.
Main Street had nothing to do with this, I don't want to hear about the millions of Americans on Main Street will their 2 homes and 2 Mercedes. Jesus, you sound like Joe Scarborough.
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