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FT.com - Ten principles for a Black Swan-proof world: "In France in the 1980s, the socialists took over the banks. In the US in the 2000s, the banks took over the government."

The banks are too powerful and they are ruining the rescue plan :: Adrian Michaels : "...some of the buyers of the toxic debt might be the very banks themselves who are trying to sell it. It has recently emerged that large investment banks are considering using vast government guarantees to buy bad assets from each other. The amount of overall waste on banks' books stays the same, it remains administered by the same idiots, the health of the banks becomes harder to gauge as risk associated with balance sheets once again becomes spread round the system. The brilliant part is that this time taxpayers are formally covering any of the losses. Show me the fools that will let this happen."

Dealbook - ‘No-Risk’ Insurance at F.D.I.C. - NYTimes.com : "And these days, whenever anybody talks about risk-free investing, it’s not hard to hear the famous line uttered by Joseph J. Cassano of A.I.G. in 2007: “It is hard for us, without being flippant, to even see a scenario within any kind of realm of reason that would see us losing one dollar in any of those transactions.”

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