The Treasury has given $250m to banks and credit card fees keep going up, allowable credit limits are cut in half and the banks use the money to buy other banks! The Paulson plan is GARBAGE imo. The US should have used the British plan wherein banks are REQUIRED to loan money, not hoard it in the vault. The reason we are typing into a recession now is there's no LENDING going on right now.
Once the democrats get in perhaps the plan will be revised!
Tuesday, October 28, 2008
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