Friday, October 3, 2008

Financial Bailout Sparks Mixed Reactions

Mixed reactions surfaced following the passage of a $700 billion financial rescue plan Friday in Washington, D.C. Proponents of the Emergency Economic Stabilization Act claim that the measure, which allows the Bush Administration to buy up to $700 billion in mortgage-backed securities, will bring stability to financial institutions and unfreeze credit markets. However, those opposed claim that the measure will only serve to harm taxpayers and have negative long-term effects on the U.S. economy.

Does US need a bailout??

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