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Wall Street bailout won't help Main Street.

Publication: The Register-Guard (Eugene, OR)
Publication Date: 29-SEP-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Wall Street bailout won't help Main Street.(Local Opinion)

Article Excerpt
Byline: GUEST VIEWPOINT By Rep. Peter DeFazio For The Register-Guard

The financial crisis we face today does not need to be resolved by forking over $700 billion from the taxpayers to assume bad bets (I mean illiquid "investments") made by Wall Street barons. The fundamental premise of the bailout is flawed, reckless, and foolish.

It is flawed because it won't solve our underlying economic and housing problems, it is reckless because there are better and much less expensive alternatives, and it is foolish because borrowing and giving away $700 billion will limit our ability to deal with the myriad other problems we face - such as health care, energy independence and job creation.

If we dump $700 billion into Wall Street to buy bad assets, we have no...

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