NJ5 on 05 July 2009
| kowenicki said: @nj5 I aint claiming that, but its clear that governments arent prepared to let a single financial institution go to the wal any more. Lehman was a huge mistake and they cant repeat it.... Will those same governments bail out hotels, bars, restaurants in puerto banus, marbella, vilamoura etc etc etc? |
Do you know what's the last country which had that philosophy of not letting banks fail and trying to buy some of their bad assets? Hint: the name starts with a "J" and ends in "apan".
That philosophy is proven not to work, yet it's exactly what the Western governments are doing today.
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