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The executive summary reads very similarly to what happened in Ireland, particularly at Anglo-Irish and Irish Nationwide banks. In general all the banks leveraged the good name and credit ratings of their host Governments for private gain - and then added insult to injury by getting the taxpayer to pony up when it all went pear shaped.

The neo-liberal ideology preaches no state interference - all the while leveraging the state reputation for private gain.  It basically amounts to a claim on unfettered profits at the taxpayers expense.

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Sat Jun 12th, 2010 at 06:41:26 AM EST
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