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Originally Posted by Mavdog
and the collateral damage?
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there will almost certainly be collateral damage -- this is a consequence of a monetary system which incessantly fosters moral hazards.
it should be noted that the proposed (or is it dictated?) bailout expressly calls for $700 billion in collateral damage, so it's not at all a question of whether we feel any collateral damage, it's a question of which route will yield the most manageable collateral damage.