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Re: [Pen-l] [permanent] nationalization with haircuts

Quoting Charles Brown <charlesb@xxxxxxxxxxxxxxxxxxxxx>:

So, the slogan might be for a
Constitutional Amendment
requiring that all banks
that are "too big to fail " ,
banks
whose failure would cause
a systemic
threat must be owned by
the federal government.



Charles, I like this formulation.

Fred

P.S. I learned recently that Ecuador has a clause in its new constitution forbidding the government to assume private debts. No bailouts for the bondholders!

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