LookieNoNookie -> RE: O and the Entrepreneur (7/18/2012 3:01:51 PM)
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ORIGINAL: Politesub53 quote:
ORIGINAL: Yachtie Perhaps because I know how to use Turbo Tax? S&Ls, regional banks, etc were not terribly troublesome. It was mostly all Goldman-Sachs, CITI, JPM, WF, BoA and of course Lehman but we know what happened to them. You appear to think it would have been a complete wipe out. It wouldn't have been, least not then. Your last line was just as I predicted, "it wouldnt have happened" Bernanke said otherwise, from memory it was something like "If we dont act now, come monday we wont have an economy". What if AIG had gone ? More importantly, what, other than TARPs, would have halted the run on the shadow banking system? If it comes down to me thinking Bernanke knows best, or you do, then there is only one winer and it aint you. Considering that Bernanke did his Doctorate thesis on the Great Depression (and I've read it...it's beyond mathematical, confusing as hell and intriguing)...even if he proves to be wrong...my bet's on him.
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