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To: BfloGuy
Thanks, I didn't realize. Reagan injected funds into the FSLIC, but the big bailout came later. Making the comparison between TARP1, TARP2, etc., even more apt.
15 posted on 12/08/2012 3:51:53 PM PST by 1rudeboy
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To: 1rudeboy
Thanks, I didn't realize.

Yeah, it's OK. You're probably just a whippersnapper.

The SHTF while Bush was President and, actually, I would have and did criticize him. Banks that go bankrupt should fail. The S&L bailout continued a horrible precedent set by FDR that banks must be protected from failure at any cost.

Banks are no longer private businesses -- they are protectorates of the government and it's our money -- money we didn't deposit in them of our own free will -- that props them up no matter how foolish they are.

I have friends who still believe that the oil companies run the country. They don't. The banks do. We saw it again in 2008 with TARP.

18 posted on 12/08/2012 4:07:58 PM PST by BfloGuy (Workers and consumers are, of course, identical.)
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