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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (30421)12/17/2008 11:34:21 PM
From: RMF  Read Replies (2) of 71588
 
"we were not facing a total collapse of the banking system"

REALLY????

I think we WERE and apparently Paulson and Bernanke thought so too.

We could have been "Iceland" with a much larger population and military.

ALL banks are interconnected, so you can't just have the Top Ten go bust and expect any of the rest to survive.

We aren't anywhere near out of the woods YET on the bank situation. We still have credit cards, commercial paper, and mortgage loan "resets" on the horizon.

Those "healthy" banks you talk about wouldn't have stayed very healthy for long if the whole system had come crashing down.
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