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The Quiet Coup

This forthright explanation of the current financial situation, written for Atlantic Monthly by Simon Johnson, former chief economist of the International Monetary Fund (IMF) is worth reading in its entirety.

Here's an excerpt:

The challenges the United States faces are familiar territory to the people at the IMF. If you hid the name of the country and just showed them the numbers, there is no doubt what old IMF hands would say: nationalize troubled banks and break them up as necessary.

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