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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (424647)10/11/2008 9:28:40 AM
From: Road Walker  Read Replies (2) of 1575244
 
Frankly, I am not comfortable with that approach. Besides its one thing to get involved in one or two banks but its quite another to get involved in multiple banks like would have to be done in the US. It feels too much like nationalizing the banking system in this country. I have an unscientific and instinctive objection to it for which I can't provide a rational argument.

Me too. My best guess is that the banks are balking at the original bailout plan, and this is plan B, which they isn't voluntary for the banks.

What do you think about his points and his general push for direct injection of gov't capital into troubled banks?

I don't know... all this stuff seems like putting band aids on a giant wound. If we have $60Trillion of CDS <not> 'protecting' all that bad debt, and we are heading into a severe recession, then it's like a thousand nukes just waiting to go off. I guess what they are trying to do is avoid a severe recession so those nukes don't start exploding.

I'm not at all sure they can.
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