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by richcollins
6447 days ago
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What do you think is happening now? The banks aren't willing to write off bad debt if they can stay afloat. As a result, they aren't willing to lend to each other. None of the banks wants to make a loan to another bank that will just go under due to their holdings of bad debt. If the banks holding bad debt were allowed to fail, this would all be sorted out much faster. |
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