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January 20, 2010

Stockman says tax the banks

Yes, that's David Stockman, the hard-core conservative and Reagan's first OMB director, saying exactly that. He says the Fed is largely to blame for this need:
The baleful reality is that the big banks, the freakish offspring of the Fed’s easy money, are dangerous institutions, deeply embedded in a bull market culture of entitlement and greed.

But, he also notes the Fed isn't likely to change, so this is the best answer.

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