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"If you want to deleverage the banking system, do that, but don’t drown the banks in liquidity. Instead run the bad boy and troubled banks through FDIC or similar proceedings that scrape off their bad debt, along with their stockholders, bondholders and management, and then sell them off to new buyers for fresh and balanced starts."
Nov 09 08:00 am
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All Comments by Ricard »Washington's Problem Is Poor Economic Solutions [View article]
At least with Citigroup, it seems the govt is taking this advice through 'similar proceedings'.