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They must not have risen to the high status of TBTF. And if any TBTFs took a hit, there were probably ways for the Fed to compensate. The Fed and Treasury were definitely picking winners and losers in 2008-09.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon May 9th, 2011 at 12:02:12 AM EST
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