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Without the government’s extraordinary rescue measures, the entire financial system was on the verge of collapse (Bloomberg)
12/07/09
06:22:56 am, by editor of MarketObservation.com, 104 words 
Categories: Central Banks/Government, Banks/Investment Banks, Bankruptcy
Rolfe Winkler shows that this financial crisis was as bad for banks, resp. worse, as the Great Depression:
Reuters: Geithner: “none…would have survived”, by Rolfe Winkler, Dec. 6, 2009
Geithner acknowledges that banks would definitely not have survived without financial help:
“None of [the big Wall Street insitutions] would have survived” had the government stood aside and let the crisis run its course, he said. “The entire U.S. financial system and all the major firms in the country, and even small banks across the country, were at that moment at the middle of a classic run, a classic bank run.”
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