President Barack Obama Message Board

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Politics : President Barack Obama

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To: koan who wrote (52344)	3/20/2009 4:20:53 PM
From: geode00	Read Replies (2) of 149317

WS appears to be in rather worse shape than it was before. The banks that have survived are bigger than ever, have less competition than before and are acting like giant pains in the rear. It is amazing. They are all playing from the same old joke book: lend a person $10K and you own them, lend that same person $1M and they own you. We are owned a great deal on the back of several trillion ($8?). We are stuck with AIG because we own 80% of AIG. If, however, we had LET THEM FAIL they would be doing the same liquidation as they are doing now and the likes of B of A and GS and Wells would be doing whatever the people requested of them (lend, knock down usurious cc rates) because they would need bailing out. It is ridiculous.

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