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2008-07-25 — financialsense.com
"Once signed into law, the budget busting legislation will hand the Administration a blank check to prop up the ailing home lenders. The ultimate cost is anybody’s guess. I believe that the price tag will be higher than just about anyone imagines. Paulson’s Bazooka will be locked and loaded with enough fire power to blow what’s left of our economy into the dustbin of history. Though the government and Wall Street assure us that these bold moves will save the housing market, and the economy as a whole, from collapse, the reality is that the solution is far worse than the problem. As painful as the failure of Freddie and Fannie would have been, bailing them out will hurt even more. In other words, it’s not the disease that will kill us but the cure."
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angryvoodoo at 05:35 2008-07-26 said:WOW and uh oh. Permalinkadd a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. |