Thursday, March 05, 2009

Tough Words Of Common Sense

"The loss of confidence is pervasive. There isn't any magic bullet here that's going to save Citi or Bank of America. The only thing that might save them is if the government comes in and sponsors a bankruptcy," said John Schloegel, a vice president of Capital Cities Asset Management in Austin, Texas.

"Until we have some meaningful discussion about doing the right things instead of just throwing money at things like AIG and General Motors, we're not going to solve the crisis we're in."

About $170 billion into AIG so far. To quote Leon from Blade Runner, "Wake up! Time to die!"

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