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U.S. government plans to buy billions in bad bank debt

By Sam Glover

Rather than allow the economy to collapse under its own bloated weight, then allow it to rebuild itself after putting smarter regulations in place, the U.S. government plans to take on billions in bad debt in a massive bank bailout. Here is the big joke that the government is telling to justify the plan: The government would [...] read more

Full post as published by Caveat Emptor on September 19, 2008 (boomark / email).