Pulling out all the stops (GS, rated BUY)

October 16, 2008

The latest action from the government from the Associated Press: “The government may guarantee nearly $2 trillion in U.S. banks’ debt and deposit accounts for more than three years in an effort to break the crippling logjam in bank-to-bank lending. That’s the equivalent of about 20 percent of the national debt, which recently blew past $10 trillion, and roughly 14 percent of U.S. gross domestic product — the economy’s total output of goods and services.”

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