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Bailing out the Bailouts

Posted by thekritz 1327 days ago, popular 1327 days ago (http://norris.blogs.nytimes.com)
Category: Economy | Tags: bailout banks europe
As the title implies, global government bailouts have proven so inept and pathetic that the bailouts now need to be bailed out. Specifically, A week ago, Germany arranged for banks to put up 35 billion euros to bail out Hypo Real Estate. It took only days for them to discover more losses, and to walk away. The newest arrangement is up to 50 billion euros, and includes government money.
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