On Feb 11, 2009, at 5:07 PM, Jordan Hayes wrote:
> Shane wants to know:
>
>> explain why honesty and prudence are sufficient for
>> "the Bailey Building and Loan" but not for Bank of America?
>
> Most probably required, but not sufficient, because "Bank of
> America" is
> not just a bank; did you forget that they recently swallowed Merill
> Lynch and Countrywide?
>
> I'm not sure *anyone* knows what the right thing to do with that is.
The receiver can simply sell off all the non-commercial-banking stuff at market prices and run the bank honestly and prudently, with the government providing all the guarantees needed for it to lend as generously as needed.
Shane Mage
> This cosmos did none of gods or men make, but it
> always was and is and shall be: an everlasting fire,
> kindling in measures and going out in measures."
>
> Herakleitos of Ephesos