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March 24, 2009


Ron Russell

All of this smoke and mirror act is just a power grab in the name of economic security. Those on the left and the right should recoil from this plan---nothing new here at all. Its been tried in other countries during times of economic crisis and results have always been the same. It invariably leads to some form of despotic government. No one wants this.


I before E, except after "G" and before "thner", Deb.

This one is understood most easily this way: a bank is an institution that borrows short-term and lends long-term. They need to be regulated very, very tightly. When they fail, the FDIC has authority for "guaranteeing losses, buying assets or taking a partial ownership stake".

Institutions like AIG, Citi, and so on became banks on the sly; hence they are called "shadow banks." In order to fix the problem, the government needs to have the same power as the FDIC has always had for banks. The way to make sure that it does not become overwhelming federal power is to eliminate shadow banking. Then this authority will end naturally as we wind down the shadow banks.


fundamentals still aint sound


fundamentals still aint sound



Apparently, I spelled it wrong in the title but not in the first sentence. Sorry about that.

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