On Wed, Oct 1, 2008 at 1:17 PM, Doug Henwood <[EMAIL PROTECTED]> wrote: > Look, if there is no recapitalization of the financial system, credit will > contract and the economy will enter recession or worse. You can be all huffy > and puffy and faux militant if you like, but I don't know how to put it any > more clearly than that. Maybe you welcome economic collapse, I dunno. >
Doug, Economic collapse? It seems like you have had quite a change of heart: as I recall you used to caution against dooms-day predictions even a few months back.. Also why bother recapitalizing the currently existing corrupt institutions, why not charter new banks, capitalize them with Treasury money and have them make loans, mortgages etc. If the existing banks cannot stay alive why not let them die and start on a clean slate? -raghu. -- "To be or not to be. That's not really a question." _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
