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October 25th, 2008

This Bailout Fiasco

"If [any company] is too big to fail, then it is too big to exist."

Sen. Bernie Sanders

John Lewin, CEO of the American College of Cardiology, predicted that the federal government could not afford subsidizing a comprehensive, national healthcare plan (such as expanding SCHIP and "fixing" Medicare/Medicaid) because it would essentially be unaffordable in the near term.  The US federal government will spend more the 900 billion dollars on essentially "de-leverging" its financial institutions ... in the near term.