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Why hasn’t anyone suggested a USA Sovereign Wealth Fund to recapitalize the financial institutions?
I think that buying the junk paper at above fair market value is just the banks ripping off the taxpayers while providing nothing in return.
Why not create a $700 billion Sovereign Wealth Fund to invest in the banks and extract blood from the shareholders who mismanaged their companies?
The government could demand seats on the corporate boards and reign in executive compensation that way.
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