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If they were underwater in 2010, they would lose nothing by making that bet. You can only go bankrupt once - there is no such thing as "double-plus insolvent."

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri May 20th, 2011 at 12:34:26 PM EST
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IfSince they were underwater in 2010, they would lose nothing by making that bet.

Fixed it for you.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Fri May 20th, 2011 at 02:45:43 PM EST
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They could have always nationalized the banks.
by Upstate NY on Fri May 20th, 2011 at 04:00:12 PM EST
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From the point of view of upper-echelon bank management, bankruptcy and nationalisation come to the same thing: They go out on their asses, because they're incompetent dickweeds.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri May 20th, 2011 at 06:34:48 PM EST
[ Parent ]

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