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Bank deleveraging has barely started

Bank deleveraging has barely started

Banks lending money to governments to help fund bank bailouts looks horribly circular

No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us

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Fannie Mae and Freddie Mac are too big to fail by an order of magnitude, in terms of the contingent liability to the federal government.

Thomas Stanton, a Washington attorney who once worked for Fannie Mae. From the archive: Freddie and Fannie arent sovereign, July 1999

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