End of the magic show: banking on honesty

By Eugene Robinson | Tuesday, February 24, 2009 | The Washington Post

“…Having to take over one or more of the big banks is the last thing the new administration needs on its already-full plate, and I understand why Obama and his advisers would do anything they could to avoid taking that step. They can’t avoid revealing how bad things really are, though. They might as well go ahead and, to borrow from Walter Bagehot, ‘let in daylight upon magic,’ because the illusion is long gone….”…BS

http://www.washingtonpost.com/wp-dyn/content/article/2009/02/23/AR2009022302323_pf.html

 

 

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