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What's your opinion on the $700bn bill?

Posted By: Michael Petch
Date: Thursday, 2 October 2008, at 5:10 p.m.

In Response To: What's your opinion on the $700bn bill? (Havard Raddum)

All I can say is that I feel sorry for Mr. Carter. No good deed goes unpunished, and the road to hell is always paved with good intentions.

I agree with the bailout in increasing the insured minimums to help small businesses that sit on short term cash and the richer middle class. The fact the 100k was set in 1980 and hasn't been adjusted for inflation.

I'm not convinced that socializing the banking/mortgage industry is going to solve the long term issue of Americans living beyond their means. A deep depression may send the wake up call that the American standard of living needs to drop if they wish to survive. If America doesn't change its way this will happen again in one form or another.

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