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Homeowners Protest Bear Stearns Buyout

by WNYC Newsroom

NEW YORK, NY March 27, 2008 —Some 200 homeowners turned out to protest a government bailout that they say helps Wall Street and hurts "Main Street."

They demonstrated in the lobby of Bear Stearns' headquarters yesterday. The investment bank is being bought out by JPMorgan Chase in a government-led bailout.

The protesters are part of a group called the Neighborhood Assistance Corporation of America. They say the government is using billions of taxpayer dollars to help the financial sector, while blaming homeowners who are struggling to pay unfair mortgages.

A spokesman for Bear Stearns was not immediately available for comment.


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