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A Good Sentence on Rescuing Banks

August 6th, 2008 Leave a comment Go to comments

I liked this sentence from Prof. Buiter’s blog, both in sound and sentiment:

I will refute his argument, focusing mainly on the case against bailing out Fannie Mae and Freddie Mac, unless this involves the euthanasia of the existing shareholders of the two GSEs and a material haircut for their creditors.

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