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Insolvent institutions should be taken over by the Federal Deposit Insurance Corporation.
Purchasing "toxic" assets is no easy solution.
Bold action can be designed with lower costs to taxpayers, while accomplishing the goals Treasury Secretary Henry Paulson has laid out.
It would be tempting to dismiss the corporate scandal that has crippled the food giant Parmalat as another Italian quirk, like the Mafia, corrupt politicians and trains that are always late.
Capitalism's biggest problem is the executive in pinstripes who extols the virtues of competitive markets with every breath while attempting to extinguish them with every action.
The perception of many, especially in the wake of never-ending corporate scandals, is that financial markets are parasitic institutions.
Saving Capitalism from the Capitalists: Unleashing the Power of Financial Markets to Create Wealth and Spread Opportunity (Crown Business, February 2003) argues that the reality is far different. Vibrant...If American mortgage borrowers act in their own narrow interests, as "knaves," they might yet cause an economic collapse worse than anything we have suffered.
Greece must seek new solutions to stave off economic disaster and preserve its membership in the eurozone.




