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Banking Crisis

September 19, 2008

I wanted this blog to be all about Holyoke, but I feel i need to express my deepest dissatisfaction with a proposed government taxpayer bailout of the financial sector.

I’ve read reports that it will cost anywhere from $2600 to $6000 for every man, woman, and child in the USA.

While we sit here and struggle to make our own mortgage payments, the government proposes to buy the bad mortgages from banks.

Now is the time to call your congressional members and senators and inundate them with your displeasure of any bailout.

unless of course they buy our mortgages and dissolve the debt. which basically they will be doing for the banks that own bad mortgages

In other news, the security and exchange commission banned short sales of stocks, due to the speculators. However nobody will ban the speculators from manipulating the oil market which drives up the price by 30 to 40%

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