Shut ’em down? by mattsteinglass
March 9, 2009, 12:43 pm
Filed under: Economics

I don’t think people are being explicit enough when they talk about the potential consequences of allowing one of the Big 4 banks — Citigroup seems to be first in the line of fire — to go under (as Republican Sen. Richard Shelby of the Finance Committee advocates). The risk is that even if you have a job, your next paycheck will not arrive because the national and global financial systems will have ceased to function. Shortly afterwards, the company you work for will go out of business because none of their invoices will be paid, either. That’s the risk. If you appreciate politicians who are willing to gamble with your next paycheck, vote for Richard Shelby.


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