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Paul Krugman Blog: Clueless

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The point is that these bank executives are not free agents who are earning big bucks in fair competition; they run companies that are essentially wards of the state. There's good reason to feel outraged at the growing appearance that we're running a system of lemon socialism, in which losses are public but gains are private.

Read the rest of the story HERE:

At krugman.blogs.nytimes.com

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