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  1. 03-10-2009, 09:12 PM #1
    AirborneSapper7
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    Roubini: U.S. Banks Already Toast

    Roubini: U.S. Banks Already Toast

    Tuesday, March 10, 2009 9:16 AM

    By: Dan Weil Article Font Size

    NYU economist Nouriel Roubini, widely credited for predicting the current crisis, says government aid to banks isn’t enough to hide the fact that they’ve failed.

    “Even with the $2 trillion of government support, most of these financial institutions are insolvent,â€
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  2. 03-10-2009, 09:57 PM #2
    vortex
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    For a lot of this I blame Clinton and Bush, especially Bush who looked the other way as banks violated all their principles, all to carry out his stress of home ownership for everyone in this country, legal or not. Well the banks did get caught with their pants down on creative financial instruments like liar loans, neg ams, etc. There have been plenty of reports of some non-English-speaker earning $9 an hour getting a $500,000 loan.
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