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Subject
One of the Biggest and Most Elaborate Falsehoods Ever Sold to the American Public” (The Bank Bailouts)
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[quote:Anonymous Coward 46759087:MV8yMTA5OTU3XzQyMDU3OTc2X0UyQTVFNTMy] :bump: [/quote]
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The bailout was, as David Stockman says, a Wall Street crisis. The bankers all freaked out when their bets turned terrible, and then played the information leverage game with Washington to get the tax payers to pay for their mistakes. They basically said that the entire economy was going down (it wasn’t) and therefore an unprecedented abandonment of what was left of our market based economy was justified. It was a giant con.
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