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Economist: Why Bankruptcy is Better than Wall Street Bailout

Posted by sunnyspeaks 1334 days ago, popular 1333 days ago (http://edition.cnn.com)
Category: Economy | Tags: bailout bankruptcy us economy
Congress has balked at the Bush administration's proposed $700 billion bailout of Wall Street. Under this plan, the Treasury would have bought the "troubled assets" of financial institutions in an attempt to avoid economic meltdown. This bailout was a terrible idea. Here's why.
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