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March 21, 2008



"...fire departments and insurance companies serve to encourage people to be less careful that their houses do not catch fire."

They don't, because people pay for own home owner's insurance and their taxes include payments to build and maintain the firehouse. But Bear Stearns kept itself out of a previous Wall Street bailout, so the analogy breaks down. Bear Stearns deserved a bailout the least. I agree though the risk was too great for the economy if Bear Stearns were allowed to fail. It was a case of "the lesser of two evils". JP Morgan had to be backed up with our $30 billion.

Nats Jackson

Bear Sterns made their bed ... so they (stockholders) should pay the piper.

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