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U.S. Senate passes bailout bill; Domenici and Bingaman support it

Started by nmindependent · 9 months ago

The U.S. Senate by a vote of 74-25 passed the $700 billion financial bailout bill Thursday night, with New Mexico's Senators Pete Domenici and Jeff Bingaman voting in favor. In the minutes leading up to the vote, Sen. Majority Leader Harry Reid, D-Nev., singled out Domenici for praise. ... Continue reading »

3 comments

  • torris187

    9 months ago

    To simplify the bailout bill.
    1. Wall street, Goverment, American households are all broke.
    2. The government is going to tax American households (through printing of money and inflation) to get money for this bailout.
    3. The government is then going to lend this money to Wall Street at a negative interest rate and lose money on it.
    4. Wall Street is then going to lend it back to us through bank loans at a high interest rate.
    5. American households will be discouraged to work due to high inflation and declare bankruptcy.
    6. A high number of bankruptcies will cause Wall street to go into bankruptcy.
    7. Wash rinse repeat till we have a serious depression or the value of the dollar is equal to 0.
    reply
  • JoMa

    9 months ago

    You forgot number 8 . . .

    8. The luxury yacht builders with Wall St. CEOs as customers will do great.
    reply
  • JOD2

    9 months ago

    Jeez. I wonder who owns Bingaman. Wall St.? Clearly its not the people of NM.
    reply
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