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South central kansas | I agree the bondholders should've taken the loss, but unfortunately they did not and so what happened is another layer of debt(this time public debt , the taxpayer) was added to the original debt.
It reminds me of the old Fram oil filter commercial, "you can pay me now, or you can pay me later", when we pay later the pain will far worse than if we would have taken it earlier. | |
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Santelli Rant
