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I also have substantial reservations as to any, and especially the American, rescue deals that pump money into the banking system from the top and relying on the filter down system to service everyone else. It seems to me that the real help is needed at the consumer end - the people that have over borrowed because of over zealous bank over lending. Countries, mainly the European catholic countries of France, Spain, Italy and Austria, where there is no credit card culture are surviving the best. Bearing this in mind, should not governmental money be used to buy up the credit card debt and retire the credit cards in general which would result in the people remaining employed, in jobs and solvent? Should there be a similar scheme for mortgages?
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