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Bank of America Corporation Message Board

  • kennyjcal kennyjcal Feb 3, 2009 7:26 PM Flag

    The FED only has 2 CHOICES

    1) Take the pain now and nationalize all the big banks by allowing the unsecured creditors and shareholders to take the hits - DOW 6500 -7000 then becomes the worst case scenario. We clean up the banks now and move on. In this scenario we may have a recovery sometime in late 2010

    2) Delay the pain and continue to let the toxic assets float by keeping Zombie banks on life support - if the US continues to take this route the DOW could fall by 80% from its highs (as Japan did) to 2,800, and the US will fall into a "near depression". This is the current course that our government is on. If you folks don't mind food lines, riots, 20-30% unemployment and the transformation of the US into a 3rd world country, than I suggest you write you local representative and plead with them it quit dicking around and write the bad debt down now. If not, soon we will all enter the Twilight Zone.

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