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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (448392)1/18/2009 2:53:44 PM
From: tejek   of 1577524
 
So here’s what we’re going to do: we’re going to unclog the arteries. My banking experts have analyzed each of your balance sheets. You will tell us if we’re right. Those of you who are insolvent, we will nationalize and shut down. We will auction off your viable assets and will hold the toxic ones in a government reconstruction fund and sell them later when the market rebounds. Those of you who are weak will be merged. And those of you who are strong will receive added capital for your balance sheets, after you write down all your remaining toxic waste. I am not going to continue rewarding the losers and dimwits amongst you with handouts.”

Cramer has called for this solution for over a year and half. I think a similar approach was taken during the early '90s. This dealing with one bank at a time is like dying by a thousand cuts.
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