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Daily Archives: October 3, 2008

House Approves Bailout Plan

October 3, 2008
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The House of Representatives approved the government’s $700 billion bailout plan today and the market hasn’t reacted much. The other day when the House didn’t pass the plan, the market plunged about 778 points. Right now though it’s sitting a little more than 100 points up for the day. We’ll to see how this all plays out, but at least the bailout was decided one way or the other. As I wrote the other day, I got some great comments from readers regarding the bailout plan. Here’s another one for you to read. Tomorrow’s Cabot Wealth Advisory will contain...

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Bailout Bonanza

October 3, 2008
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Bailout, bailout, bailout … it’s all bailout all the time these days, with every news organization (financial or otherwise) reporting rumors and innuendos from every politician regarding the government’s bailout package.  Of course, the plan hit the fan in the House of Representatives on Monday afternoon, though the Senate passed it on Wednesday night. The House is expected to vote again today. What’s my take on the situation?  Honestly, I don’t know.  I want to believe that some type of bailout is going to help stem the tide of this mortgage mess, and I would guess it will.  But...

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