Monday, January 26, 2009

Teetering Since 1812: This is Citibank's Third Bailout

What Citi's history illustrates is that these are not new dilemmas and that they've never been perfectly resolved. Banks and financial systems are inherently fragile, beset by a natural tendency to careen from fear to greed and back. We're deep in the fear part of the cycle right now. So what should government do?

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