Did Wall Street take over the Treasury? Bank crisis exposes public realities of private banking
Geopolitical Economy Report
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The Government's Plan to Take Over Continental Illinois Bank
Banks will end up running into the same problems that led small banks over and the government will be paying. Too big to fail was first used as a principle to bail out a bank when Continental Illinois went bust in 1984. But today it has become much more systemic. The financial sector is going to have to collectively pay for its own failures.
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