Bush Submits $700 Billion Bailout Proposal to Congress
Here is the text of the bailout proposal President Bush has sent to Congress.
Sent overnight to Congress, President Bush says the risk of doing nothing is greater than the risk posed by the bailout.
The plan would allow the Treasury to buy up mortgage-related assets. The aim is for the government to buy the securities at a discount, hold onto them and then sell them for a profit.
Is he right? According to the experts quoted in the article:
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