RE: [Pen-l] Would bankruptcy have been the best for the banks ?

["David B. Shemano" <dshemano@xxxxxxxxxx>]

Yes.  Bankruptcy and the threat of bankruptcy would have quickly resulted in a painful but necessary reallocation of resources from insolvent institutions run by idiots to more stable and better run institutions.  Instead, the government is presently reallocating resources to the insolvent insitutions, thereby delaying necessary consolidation at best and creating zombie banks at worst.

I say this is as a proud CitiGold member.

David Shemano


--- Original Message---
 To: <pen-l@xxxxxxxxxxxxxxxxxx>
 From: "Charles Brown" <charlesb@xxxxxxxxxxxxxxxxxxxxx>
 Sent:  1/13/2009  1:01PM
 Subject: [Pen-l] Would bankruptcy have been the best for the banks ?

>> Question for Dave S.: Should those big Wall Street
>> banks have been allowed to go bankrupt ?
>> 
>> Charles
>> 
>> 
>> 
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