Editor,
It is time to embalm the zombie banks.
They should have been nationalized, dismembered, viable operations salvaged, in 2008, but it is not too late.
Who loses? Shareholders. (When I buy stock in a company that goes bankrupt, I lose my investment. Why is this not true for financial institutions like Citigroup and Bank of America, big corporations, and extremely wealthy individuals?)
Who wins? Everybody else.
Why? Because the toxic garbage the brilliant dopes in the business of peddling credit saddled the financial system with will finally be purged from everybody's books and the world can go back to reputable enterprises like building bombs, killing civilians in trumped-up pointless wars, and destroying the oceans and the atmosphere.
Re: "Derivatives Cloud the Possible Fallout From a Greek Default" (6/23/2011)
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