Instead of trying to come up with a constructive solutio, the banks failed to accept that their exceptional earnings did not come to them.
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I tend to believe that the Glass-Steagall approach, an institutional way to address the question, overlooks the importance of a market response.
More than Paulson, more than Bernanke, more than pretty much anyone in Washington I'd trust venture capitalist John Doerr to negotiate my stake in the bailout.
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