Let The Banks Pay For Their Own Bailout

Regarding the banking mess ("How deep is the hole?" Top of the News, Dec. 9), there is no more justification for using tax money to bail out the banking industry than there is to save the airline or any other industry. Under the deregulation craze, which began in the 1970s, we have produced the equivalent of what was known as "wildcat banking" before the National Bank Act of 1863 was passed. It is about as easy to open a bank as it is to open a pawnshop.

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