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I can't help noticing that all of the "free marketers" like Larry Kudlow are calling for the suspension of mark-to-market for the banks toxic assets. Funny, I thought mark-to-market was pricing as determined by the free market. Silly me.
Mar 03 11:41 am
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All Comments by WAdem »Why Zombie Banks Won't Be Nationalized [View article]
I don't care if the banks are kept in private hands, what I want is for the present management to be discharged and the balance sheet cleaned up so that if can properly function once again. The notion that the very individuals that thought housing prices can only go up and that securitization and leverage could be done with limited risk shows their collective incompetence. Let us rebuild the banks with new management for the new business model they will operate under. And spare me the sermon on how detrimental regulation and oversight is to businesses. I'll take a side of that as well.