NJ5 on 28 October 2008
| Rath said: Buying out troubled banks = buying out and proofing toxic loans = what this bailout is meant to do. |
Banks buying other banks just means the toxic loans are shifting from one bank to another. It doesn't remove the toxicity from the banking system.
Even if you were right, the whole point of giving money to banks instead of buying up their toxic loans was that they concluded the latter was not effective.
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