[Pen-l] Re: Another scathing intra-class criticism of the bailouts

[Marv Gandall <marvgandall@xxxxxxxxxxxx>]

I incorrectly reproduced this paragraph:

> Black: Mopping up the savings-and-loan crisis cost $150 billion; this
> current crisis will probably cost a multiple of that.  Unless the current
> administration changes course pretty drastically, the scandal will destroy
> Barack Obama's presidency. The Bush administration was even worse. But 
> they
> are out of town. This will destroy Obama's administration, both 
> economically
> and in terms of integrity.

It should read:

Black: Mopping up the savings-and-loan crisis cost $150 billion; this
current crisis will probably cost a multiple of that. The scale of fraud is
immense. This whole bank scandal makes Teapot Dome [of the 1920s] look like
some kid's doll set. Unless the current administration changes course pretty
drastically, the scandal will destroy Barack Obama's presidency. The Bush
administration was even worse. But they are out of town. This will destroy
Obama's administration, both economically and in terms of integrity.

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