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A bad precedent

December 24, 2008 00:00:00


The way the American government is injecting money directly into banks is creating a bad precedent for future banking industries, some of which may-by fraud, negligence, or pretension-fall sick in the expectation that the Treasury Department, like Social Security, would always be there by their bedside with a briefcase full of dollars.
Some optimists, with the sudden surge in the Wall Street, are finding at last 'the light at the end of the tunnel'. But, many experienced Americans are finding the light at the end of the tunnel 'not as a light of relief', but a dazzling headlight of another giant train rushing from the opposite direction.
Sanwar Quadir
Lalmatia,
Dhaka

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