All you need to know about the bailout

Wall Street responds to the bailout plan:

Struggling to stave off financial catastrophe, the Bush administration on Friday laid out a radical bailout plan with a jawdropping price tag — a takeover of a half-trillion dollars or more in worthless mortgages and other bad debt held by tottering institutions.

Relieved investors sent stocks soaring on Wall Street and around the globe.

That’s because “relieved investors” know that they’ve just tossed a half trillion dollars worth of crappy debt into a great big dumpster called the American Taxpayer.

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