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The public is not buying the bailout

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Even as Congress seems to be moving toward a final version of the bailout plan, it's clear that the American public is not buying it. This is how the New York Times puts it: "Americans' anger is in full bloom, jumping off the screen in capital letters and exclamation points, in the email inboxes of elected representatives in the nation's capital." Sen. Barbara Boxer has received nearly 17,000 emails about the plan--almost all opposed. So in selling this to the public, supporters will have to pay attention to marketing what's in it for the taxpayer. All of that remains to be seen. The details are still being hammered out, but the plan will go down easier if there is an equity stake for the government in banks, some relief for mortgage holders and some controls on how all the money will be spent.

For more:
- here's a New York Times article

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Comments

Instead of bailing out these institutions, let's divide the money the gov't wants to use, among all adult working taxpayers who are legal citizens and not on welfare. This would allow these Americans to help pay off their debts and put money back in the system as taxes paid. It seems that all benefit.

That's interesting but this government doesn't want to help the average American pay their debts they want to help their billionaire friends pay their debts. See the logic in that right, glad to show you the light.

1. The President nor the Congress is suppose to use tax payer dollars for private interpirse.
It's Un Constitutional.
2. Where as most of these financial gufu's will tell you if anyone wants to listen to them, since they get their stipend from the same source, is that without this "bailout" - banks will close, money will be lost and people will be out of work.
-Excuse me? - I've noticed in the last several months that Banks have been changing names, some closing up completely - before any crisis.

I say like everyone else seems to be saying - is if you want to help - give the """TAX""" paying public the 700 billion and watch the economy.

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