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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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From: bluezuu6/12/2009 7:05:29 PM
   of 116555
 
I would think market principles would mean allowing a normal business cycle. And, let companies go bankrupt when they screw-up. Or, if they had to borrow temporarily from the "house" make it on terms like Buffett got from GS. I would also think 12 trillion dollars is not minimal.

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Summers said critics claim the administration was engaging in "backdoor socialism" and flatly denied it. "Where our focus has been as we have intervened when necessary is on the intervention being temporary, based on market principles and minimally intrusive," he said.

Summers offered a philosophical analysis of the financial system's woes, noting that history shows that every two or three years some dire situation arises like the Latin American debt crisis, the 1987 stock market crash or the Asian financial troubles of the late 1990s.

money.cnn.com
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