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If Congress approves this murky and obscenely expensive $700 billion bailout without a whole lot more information they should all get a one-way ticket to the funny farm because they will have engaged in the very definition of crazy — doing the same thing over and over expecting a different result. I do not agree that if we don’t act now — NOW! RIGHT NOW! — the market will “collapse.” I’m no econ expert, not by a long shot, but the administration screamed “market collapse!” when it backed the take over of investment bank Bear Stearns with $30 billion in taxpayer dollars (and offered 20 other Wall Street firms direct emergency financing the same day), then the same again when it bailed out AIG, and again when it took over Freddie Mac and Fannie Mae. Oh, and then there was that $180 billion the U.S. Federal Reserve made available to banks earlier this month to keep up the flow of credit. Each time we’ve been told the sky...
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