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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (418185)9/19/2008 11:07:00 AM
From: tejek  Read Replies (1) of 1578288
 
"we were very lucky to have Paulson in the position he is in......its what saved our asses."

For this week. Nothing has really been done yet, so this market effect is entirely psychological. Easily undone by the next corporate failure.

I disagree. First restoring faith in the financial system is huge. Secondly, a system like the RTC is in the process of being set up. Thirdly, it gives banks higher stock prices so they can raise much needed capital. Things are still a mess but we are a hell of lot better off than we were two days ago.
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