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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (9859)8/21/2008 6:44:38 PM
From: ajtj99  Read Replies (1) of 33421
 
Roubini from NYU has said if they just allowed FRE and FNM to go bankrupt, the bond holders would have received about 80% on the dollar.

That would have been the easy way to fix this mess. Instead, we're doing bail-out work. What happens when the FDIC is insolvent after WM and WB hit it? More bail-outs. What happens when GM, Ford, and Chrysler are ready for Chapter 11? Bailouts.

This place is getting more and more like France and Italy every day.
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