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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (123229)	10/9/2012 9:11:42 PM
From: RetiredNow	3 Recommendations Read Replies (2) \| Respond to of 149317

Jim, I believe in the bankruptcy laws of this country. I also believe in something very simple. If our government designates a bank as too big too fail, then they should immediately take that bank over and force them to go into bankruptcy, sell off the parts to solvent banks, and solve the problem once and for all. This idea that the taxpayer should be on the hook for the bad bets of the reckless banks and that it's ok to keep poorly managed banks who are a systemic risk to the economy, up and running, is just the height of madness. The sad part is that we've solved this type of problem before...multiple times. We solved it after the Great Depression and we solved it again after the Savings and Loan Crisis. But this time around, we decided to sweep the bad shit under the rug, bail everyone out with taxpayer dollars, and leave the root causes un-addressed. Since when did we become such a wimp of a country that we can't look a problem in the eye and solve it?