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After the failure of the bailout, what next?

Posted on September 29, 2008

Five days ago, I wrote:So I am fairly confident that a workable solution will be reachedbefore the markets open on Monday. I do not look for an optimal solution. If an optimal solution exists, it is undoubtedly toocomplicated to be workable . But I believe that a number of ideas onthe table have the potential to avert a complete meltdown. I thinkthat when all the parties (including both McCain and Obama) meet behindclosed doors and really come to grips with the magnitude of the problemand the fact that a workable solution exists, we'll get one.I sure hope I'm right.I was wrong. A...

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