Murdoch Says Bank Bailout Has To Happen

'NEWS Corporation chairman and chief executive Rupert Murdoch says the bailout of troubled US banks has to happen.Mr Murdoch, speaking on the way to a meeting with Prime Minister Kevin Rudd in New York, said he didn't like the $US700 billion ($830.47 billion) rescue package on principle."We'll see if they can get this thing through this week and hurry up about it," he told ABC Radio about political machinations in the US Congress.Tensions have mounted over the rescue package, as lawmakers stiffened their opposition to the US Treasury plan."I think we'll be OK but we are in for a hard time," Mr Murdoch said."I personally think it (the bailout) has to happen. There's no alternative.'

Think about this one people! news Corporation is the parent company of Fox News, if the bail out happens the stockmarket rockets upward taking his companies shares with it - Its called lying with vested interest!!!!!

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