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Thursday, April 9, 2009

Overseer's advice: Fire the top executives, liquidate the banks

The recommendation of the TARP fund overseer that the top executives of offending companies should be fired and the banks should be liquidated was given short shrift in the media when it deserved more extensive play, according to the Columbia Journalism Review.

Elizabeth Warren, a U.S. House representative and Harvard Law professor issued a report yesterday which asserts that the firing of screw-off (my term) executives and the liquidation of pirating banks would be a more reasonable and effective measure in restoring the economy.

The most extensive account of the report is at Bloomberg News

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Aberdeen, South Dakota, United States