Ep. 772: Wake Up and Think with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Risks of the Bailout
"I'm horrified at what happened. I'll get a lot of friends," he says. "If capitalism is going to make sense for anybody, you know, it's a brutal business." The federal treasury went in and made them a bank holding company and literally saved their bank,. But even if you go down for systemic reasons, as opposed to your Bayer decisions, that's still one of the risks that you knew about and took. And I don't think you deserve to be saved and not at public expense".
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