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Best Web OpEds 1/29/2008 at 11:56 PM EST

The Great Credit Unwind of '08

Quicklink Submitted By Sheila Samples 2 comments

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Sheila Samples

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Harvard economics professor Lawrence Summers is making an impassioned plea for further government action in addition to the Fed's rate cuts and Bush's $150 billion "stimulus plan". It's easy to wonder why he remained silent while markets were soaring and investment banks were reaping trillions in profits on a "structured investment" swindle which has left the global financial system teetering on the brink of catastrophe.

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

Related Topic(s): Bankruptcy; Credit; Economics; Markets; Money, Add Tags

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