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Hey Ex-Tex:

Remember September 2008?

At the height of the Greatest Crisis In The History Of The Known Universe, when Hank Paulson was genuflecting at the feet of Nancy Pelosi?

When we were steadfast here on FR in advocating that the banks be made to eat their own dog food, and that nothing good would happen in the economy until they did?

Remember the huge the ration of crap we caught for this?

It was "Shut up you Commie, we have to save the investment banks!! Sweet Mother of Mercy, save the suffering banks!!" from a whole corps of Freepers who have since had the good sense to STFU.

And still, nothing good will happen in the economy until the investment banks owning MBS come clean, and honestly value their balance sheets.

Your post #52, very well stated and I've often said the same thing. TARP was an enormous mistake used to bail out the architects of the late ‘08 meltdown. We would've been infinitely better off to let the whole thing unwind at that time rather than delaying and exacerbating the inevitable.

This collaboration of Manhattan/Washington over the past couple decades has been an unmitigated disaster.