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September 10, 2008

All Business: Bailout won't fix consumer credit troubles

AP Business Writer

NEW YORK — The government doesn't want Fannie Mae or Freddie Mac to go broke, but it better start thinking about what happens if the rest of us do.

The latest data on the job market paints an ugly picture: The unemployment rate shot to a five-year high in August and payrolls are being cut at an alarming rate.

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