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Politics : View from the Center and Left
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To: Steve Lokness who wrote (92212)10/28/2008 9:34:37 AM
From: JohnM  Read Replies (2) of 541623
 
So the banks pay off their high interest debt and buy other banks with taxpayer money. Absolutely unbelievable.

Krugman's piece is the second I've read that makes that point. Joe Nocera made the same point a couple of days ago. And Nocera argued that there appears to be a nonpublic plan to encourage consolidation in the banking industry. More large banks; fewer small ones. Not hard to see whom that favors.
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