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Divisive politics and the Tyranny of the Majority guarantee policy fixes will fail or be symbolic only.Though I am drawn to public policy questions, I always regret proposing any policy fixes. Why? For a number of reasons:
1. It’s safer and easier to be a critic or doomsdayer. Finding flaws in policies addressing a diverse populace, be it a town, city, state or nation, is like shooting fish in a [...]
The Treasury, Fed and CBO don’t include the trillions of debt guaranteed for FNMA, Freddie Mac, AIG, Citi, Bank of America, JP Morgan and the 20/80 addition guarantee policy of the FDIC. On top of that the Fed has $2.4 Trillion of junk bonds they bought from the banks (they, for some absurd reason, don’t have to disclose who they are and what, they [...]
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