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Here is the text of the proposed bill, near as I can tell. It seems much different from the recently defeated bill. http://senateconservatives.files.wordpress.com/2008/10/bailouttext.pdf also here, but the government site is very slow due to the amount of traffic...

Again, math people math 1 billion = 1000 million or 1,000,000,000 1 trillion = 1,000,000,000,000 US population is about 300 million or 300,000,000 The total bailout will be about a trillion dollars: 1,000,000,000,000 divided by 3,000,000,000 = 10,000/3 = ~$3333 per every man, woman and child...

I think the bill was bad, but I think some sort of bailout is necessary. This has been coming for a while with all kinds of bad decisions along the way....the emphasis on getting low income families into loans, 100% mortgages, overinflated appraisals, selling mortgages on speculation, bundling...