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The Bailout I'd Believe In
I don't know into which derivative my mortgage got bundled, but when the government buys it I'd like to refinance at 3 percent, please. That's a bailout I would believe in.
Otherwise, the government is really just buying my debt service for 1 or 2 percent, and charging me the same 6 percent as before. That's more like a tax. Might even be the biggest increase in history.
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