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Taxpayers will bear the cost of Wall St. folly
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| Parent(s) |
Race
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| Contributor | Bob Sacamano |
| Last Edited | Bob Sacamano Sep 28, 2008 06:36pm |
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| Category | Editorial |
| News Date | Thursday, September 25, 2008 12:35:00 AM UTC0:0 |
| Description | If Joe Homeowner can't keep up with his payments and loses his house, he's pretty much on his own.
If formerly blue-chip investment banks run by the smartest guys in the room can't keep their checkbooks balanced, the U.S. Treasury Department will rush in with a $700 billion rescue plan financed by the taxpayers.
And if that doesn't make you choke on your breakfast, you've got a pretty strong stomach. |
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