I think the holes in some of these balance sheets that we have now, especially if we mark the true market valuations, is so large that to make a good bank/bad bank solution to any of these large banks work now, public moneys would be needed.
John Taylor discusses the need for public funds in banking solutions.
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The whole idea of bailouts is that people get advantage and that it creates huge risk-taking and huge moral hazard.
I just do what I believe. And I believe that strong-mayor powers, aside from everything else, are a significantly bad idea.
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