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Dark musings, 2009-03-24 | The Big Picture
by flynn23 at 2:48 pm EDT, Mar 24, 2009 |
Of course the whole notion of repairing bank balance sheet is a lie and misdirection. The balance sheets we should want to see repaired are household balance sheets. Banks have failed us profoundly. We want them reorganized, not repaired. A world in which the banks are all fixed but households are still broken is worse than what we have right now. Too-big-to-fail banks restored to health are too-big-to-fail banks restored to power. The idea that fixing legacy banks is prerequisite to fixing the broad economy is a lie perpetrated by legacy bankers.
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RE: Dark musings, 2009-03-24 | The Big Picture
by janelane at 12:47 pm EDT, Mar 25, 2009 |
flynn23 wrote: Of course the whole notion of repairing bank balance sheet is a lie and misdirection. The balance sheets we should want to see repaired are household balance sheets. Banks have failed us profoundly. We want them reorganized, not repaired. A world in which the banks are all fixed but households are still broken is worse than what we have right now. Too-big-to-fail banks restored to health are too-big-to-fail banks restored to power. The idea that fixing legacy banks is prerequisite to fixing the broad economy is a lie perpetrated by legacy bankers.
Hmm...the Barracuda web filter at work is blocking this website as "spam". Curious. -janelane |
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RE: Dark musings, 2009-03-24 | The Big Picture
by flynn23 at 2:01 pm EDT, Mar 25, 2009 |
janelane wrote: flynn23 wrote: Of course the whole notion of repairing bank balance sheet is a lie and misdirection. The balance sheets we should want to see repaired are household balance sheets. Banks have failed us profoundly. We want them reorganized, not repaired. A world in which the banks are all fixed but households are still broken is worse than what we have right now. Too-big-to-fail banks restored to health are too-big-to-fail banks restored to power. The idea that fixing legacy banks is prerequisite to fixing the broad economy is a lie perpetrated by legacy bankers.
Hmm...the Barracuda web filter at work is blocking this website as "spam". Curious. -janelane
How can a website be "spam"? I mean, you're choosing to go there, right? |
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