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Originally posted by eyeball
-- Treasury Secretary Paulson says "hundreds of billions" of dollars are needed to resolve U.S. financial crisis.
In the US, government interference in business is considered a sin, just one step a away from socialism and the slippery slope to Communism. But the minute the 3 biggest financial institutions in the country get themselves in trouble, the government takes them over. And when the "government" takes them over, it means the taxpayers are on the hook for billions worth of bad debt.
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