Paulson to America: Your Money is the Banks’ Money

Let me translate this from Paulson to English:

Treasury Secretary Henry Paulson said Tuesday that he does not expect any more major financial institutions to fail during the current credit crisis.

"We will print as much money as we have to to make sure no more banks fail. We gave or guaranteed 350 billion to Citigroup, after all. We’re willing to spend however much taxpayer money it takes."

I will leave it as a reader exercise to decide if that’s reassuring or not.

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