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  • U.S. Rejects Nationalization of Citi and BAC [View article]
    For all practical purposes all major US banks are nationalized: without government money and/or guaranties they will not last a week or two.

    Pumping more money into failed banks with totally incompetent and corrupt management will result in more fraud and more looting of taxpayers money.

    About Obama plan: it throws $3T+ of taxpayers money on welfare for no-good individuals and no-good state and local governments. This is a total waste.

    Government must
    - take its losses
    - take over no-good/failed banks and dispose them into private hands capable of successfully running financial institutions
    - invest in interprises capable of surviving and prosper
    - big financial banks/institutions must be broken in to small ones unable to create future "systemic risks"
    Feb 22 17:41 pm |Rating: +2 -1 |Link to Comment
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