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Politics : Politics for Pros- moderated

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To: goldworldnet who wrote (480072)	4/2/2012 1:09:33 AM
From: Stan	4 Recommendations Read Replies (1) of 793851

The downgrades will make the larger ones even larger, making too big to fail even a worse problem to solve next time. Here is Senator Dorgan in 1999 trying to stop the effective repeal of Glass-Steagall (as discussed here some time ago), in vain, of course; but he sounds now like a modern-day prophet. His is an even-toned, idiot-proof rationale, but it's drowned out by the pounding of blood in the brains of greedy bankers, their lobbyists and those in public service whom they bought out. This madness needs to stop. They need to be broken up and return to their original mission statement: Hold deposits and pay interest, lend money to good borrowers for a bit higher interest and the spread is your profit. The good, old, boring, sound business model. Yes, we'll have to get them back on the farm after they've seen Pa-ree.

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