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Politics : Stockman Scott's Political Debate Porch
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To: Broken_Clock who wrote (79844)4/23/2010 2:18:47 PM
From: combjelly  Read Replies (1) of 89467
 
"In plain English, this means that the next time they bring the system to ruin, the banks and bank holding companies will get bailed out by the taxpayers, just like this time."

Uh, no. That isn't what it means at all. As typical with you wingnuts, they are mis-representing what was in the bill. The intention here was to create an equivalent to the FDIC for financial institutions. It would have been funded by the institutions themselves, not the taxpayer, and would put in place a mechanism to take over failing institutions and shut them down in an orderly fashion, unlike today.

Now, I know y'all love your little fables, like the one I was responding to before you hijacked it for your little fable. But, still...
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