Banking on the future

Haggath, David
February 2009
Hudson Valley Business Journal;2/23/2009, Vol. 19 Issue 8, p9
In this article, the author criticizes the U.S. government's solution to the over-credited economy. According to the author, the solution is intended to correct the problem by preventing the correction. He points out that the bailout scheme for banks is a revised theory of trickle-down economics. He believes that the scheme will lead to the development of a new bad bank owned by taxpayers to pay real money. He suggests eliminating the current bank chief executive officers (CEOs) along with the bad debts.


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