The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: GST who wrote (19303)	3/30/2009 2:45:54 PM
From: ggersh	of 71456

huffingtonpost.com "Then in January, Obama succeeded Bush--and if anything the closed-door operation became even more secretive. In devising their horribly convoluted and risky approach to the next phase of the banking bailout, chief economic strategist Summers and Treasury Secretary Geithner did not consult closely with Congress. The new rescue package was not legislated. There were no hearings. Rather, they met extensively with key Wall Street banking barons, to design government guarantees so lucrative that speculative hedge funds and private equity companies would bid for toxic securities clogging bank balance sheets. They would make a financial killing, but maybe banks would be recapitalized and start lending again."

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