Banks too big to save?

posted by
February 27, 2011
Our Future Blog
by Robert Borosage  
Posted in Commentary, PND Commentary

"Anyone remember the last emerging market craze, when Walter Wriston, Citibank, recycled petrodollars to 'developing' ations, repeating the mantra that sovereign states never default? That blew up in 1982, and Citi had to be bailed out once more. (Citi’s history from the start is one folly after another, requiring rescue). And now as the biggest banks are bigger and more concentrated than ever, Geithner has decided to defend financialization of our economy." (02/26/11)  

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