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Monday, September 22, 2008

Political-Watch buying of $700 bn in toxic mortgages

Political-Watch: "“The Bush administration is asking Congress to let the government buy $700 billion in toxic mortgages in the largest financial bailout since the Great Depression, according to a draft of the plan obtained Saturday by The Associated Press.”

Where is the US government going to obtain the funds for this bail out? Already in debt to other nations for trillions of dollars, it seems like a house of cards waiting for a tiny puff of wind to blow it over.

Helge: That's a good question.

When the whole world’s economy eventually fails as a result, where will George W Bush be?

Helge: The new president has to do the clean-up. The cost of the Iraq and Afghanistan wars combined is $850 bn.
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