Bernanke and Paulson: Determined to keep their mistakes original

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Hogwash!
All these are mistakes of the same kind: greed and blithe disregard for morality. They only differ in deviousness of putting one over others. All these social tragedies are man-made: conscious, cold-bloodedly planned and executed.

Only if the new proposals pivot on transparency and open consultation with the American people can such "mistakes" be obviated. Asking for blanket authority already shows a fatal flaw to the claim.
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I thought Frank Partnoy, a law professor at the University of San Diego, had a good Op-Ed piece in the NY Times today. They should buy the loans and not the derivatives. That way they can negotiate to the best solution for all.