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View Diary: 10/4 Daily Kos R2K Tracking Poll: Obama 52, McCain 40 (239 comments)

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  •  The bailout has done shit for the economic (0+ / 0-)

    situation.  The problem is tight credit.  The bailout would take a long time before it could loosen credit.  Listen up:  The credit tightening is starting to hit at the local and regional bank level.  That is bad!  Why?  Because most small and mid-size employers get their money to pay their payroll from credit lines given out by such banks.  Watch.  The next couple of weeks their will be layoffs by local employers simply because they cannot get the money to meet their payroll.  The passage of the bailout bill does nothing to stop what has already started; it is a snowball effect.

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