I am a Republican, a black, dyed in the wool Republican, and I never intend to belong to any other party than the party of freedom and progress.

- Frederick Douglas

Let Them Fail

In a speech today, US Treasury Secretary Henry Paulson makes it clear that he is giving everyone a heads up that the government is working on ways to allow large institutions to fail. Failure is a part of the cleansing process.

Do we have the ability to allow a financial institution to fail without panicking?

posted at 11:54:38 on 07/02/08 by clearpolitics - Category: Economics - [Permalink]

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