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I lost track of how many bail outs have been handed by the government this past year:
- Bear Stern (by backing JP Morgan in the acquisition)
- Feds opening the discount window directly to investment banks and later extending it.
- Feds Slashing interest rates on several occasions regardless of its impact on the dollar or inflation. YES, I see this as a bail out to Wall Street that keeps advocating it simply because they want a little bounce in the market regardless of the long term impact.
- This bill being discussed.
I’m sure there are others that I can’t remember!
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