Congress Debates $700 Billion Bailout Bill
It was close, but no cigar. Now it's back to the drawing board to see if a little pork here, and a little pork there will do the trick, that's our congress at work, aren't you proud of them. I'm one who believes that congress interfered in the free market by encouraging loans to people that were not qualified. Some greedy bank people took advantage of the situation and lent money to anyone that they possibly could, knowing that the loans would be bought by government backed entities such as Fannie Mae and Freddie Mac. The free market will not be able to get us out of this mess, because it has been distorted by government interference. Therefore, sense government interference brought us to this point of crisis; they are the only ones who can get us out of it. If the free market had been allowed to work the way that it was meant to, we would not be in this mess. I wish the government would just get out of our way, and let us be free, the way it was meant to be. US Congress debates massive Wall Street bailout WASHINGTON (AFP) — US lawmakers on Monday debated a 700-billion-dollar bailout plan for struggling Wall Street banks as US President George W. Bush appealed to Congress to quickly approve the deal to free up frozen credit markets. "I fully understand that this will be a difficult vote," Bush said at the White House before the House of Representatives began debate on the proposal amid stiff opposition from some members of his Republican party. But he said the rescue ...
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