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from Ken Little The Treasury is planning to pump some $250 billion of capital into the banking industry. Details are short, but clearly this crisis will not resolve itself without serious government intervention. Many within Treasury and the Bush Administration have resisted this idea as a step on the slippery slope to nationalizing the financial industry. That would only be an issue if a malevolent government's intention was to permanently take over private businesses. Nobody wants that and it is unlikely to happen. However, there is no doubt that at the end of this financial crisis in more government oversight. | |
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