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Ludicrous Proposal by Harvard Economics Professor to Force Taxpayers to Buy Spanish Bonds; Mish's Five-Point Alternative Proposal

Precisely why should taxpayers bail out banks that made stupid loans? Feldstein never bothers to say. Are bondholders never, ever to take a loss? Feldstein's proposal is so preposterous and so devoid of rudimentary thinking about taxes (by whatever name) that it should be clear that he is unfit to teach
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