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View Diary: Carnegie Mellon Professor: No bailout needed (305 comments)

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  •  I'm afraid of Congressional oversight (1+ / 0-)
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    Calamity Jean

    because I think they will just insist on giving more billions and trillions to other businesses. You don't control excess borrowing by still more unfocussed borrowing and unfocussed spending. Bernanke let the cat out of the bag yesterday when he said that the Feds would have to buy these assets at more than market value because otherwise the banks won't be helped. When you buy things at more than market value you send our current Washington corruption into the stratosphere.

    You can't trust Bernanke and Paulson to run a lemonade stand with care and integrity. Their comments on the financial crisis have been so wrong for so long that they should be fired.

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