Contrary to the media’s constant harping this action bails-out Main Street, so we can all get car loans, student loans, credit loans to support our business. If this doesn’t happen then yes the financial markets will meltdown but the impact will be felt most heavily on our homes, on our employers, on our businesses and more.
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UPDATE (from Pamela): CNN Money has the draft of the plan here in PDF.
UPDATE 2 (from Pamela): The Emergency Economic Stabilization Act of 2008.