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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Quote:
Originally Posted by jyl
Would you prefer to have 1 or 2 large US money center banks (think Citigroup) fail, 1000+ smaller US banks also fail, amid a cascade of bank failures around the world?
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That's the root of the problem. We have all of our eggs in just a few, huge baskets. We should be breaking up the huge banks so that the consequences of stupid decisions are more isolated.
The problem we have now is that one mega-bank does something stupid, all of the other mega-banks follow for fear of missing out on profit before the stupidity is fully realized.
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Some Porsches long ago...then a wankle...
5 liters of VVT fury now
-Chris
"There is freedom in risk, just as there is oppression in security."
Last edited by legion; 10-14-2008 at 07:42 AM..
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