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Unfortunately, it's not just investment banks.  It's real banks, and a major part of the problem, as I understand it (and others can correct me if I'm wrong), is that a lot of people have their 401(k)s tied in with these companies, too, in the form of preferred stock and so on.  It's not nearly as simple as the folks on dKos would like us to believe.

Now maybe the answer is to nationalize -- or alternatively to simply let them fail -- and wipe them out anyway.  (I think that's what I would do.)  But it seems there's a major problem sitting there that isn't being talked about that might help to explain why the government is so hesitant to make a serious move.

Just something to consider.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Tue Mar 3rd, 2009 at 08:07:55 AM EST
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