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Politics : President Barack Obama
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To: tejek who wrote (68848)1/27/2010 4:59:49 PM
From: koan  Read Replies (1) of 149317
 
You think that would have been worse than giving the money directly to the banks at zero interest rate so they could keep gambling?

PS Geithner's chief of staff also worked for goldamn Sach's and Geithner tried to slip the quesiton. He is a lying sack of shit. So what is Obama doing with him there?

>>This is my business tejek. It is what I know of first hand.

Then you know how politically unsavory forcing the banks to refi existing loans would have been. While the recession was bad, it didn't justify such a draconian step......and more importantly, I believe it would have been met with a lot of opposition.
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