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The N Word

The bailout of the banking industry just gets more and more ridiculous. At what point do we say enough is enough? It’s beyond time to nationalize the whole industry. It’s a sham, one big Ponzi scheme. The entire industry needs to be blown up and re-built from scratch. Banks should be in the business of providing savings accounts for people with excess money and loaning that money to people who need it. Period. Somehow the industry has grown to 8% of the nation’s GDP, which historically is about twice what it should be. Let the government downsize the industry, put in sufficient regulations to keep things from getting out of hand again, and then and only then re-privatize the industry.