Thursday, January 29, 2009

IT ALL DEPENDS ON


Tim Geitner said today, in response to questions about the prospect of bank nationalization, that the Treasury is considering a range of options with the intent of preserving the private banking system. “We have a financial system that is run by private shareholders, managed by private institutions, and we’d like to do our best to preserve that system,” he told reporters.
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Well, it all depends on what "private" means.

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