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Wall Street 'Takes $4 Billion From Taxpayers'
futureofcapitalism.com
Bloomberg News has revised the absurd headline on a story that earlier read "Wall Street Takes $4 Billion From Taxpayers as Swaps Backfire" so that it now reads "Wall Street Collects $4 Billion From Taxpayers as Swaps Backfire." By the logic of the earlier headline, you could have said "Bloomberg Takes Millions in Terminal Fees From Wall Street." There's a subtle difference between a "take" and a business transaction that two parties enter into willingly. If the swaps had worked out differently, would Bloomberg be writing "Taxpayers Take $4 Billion from Wall Street"?
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Wall Street 'Takes $4 Billion From Taxpayers'
futureofcapitalism.com
Bloomberg News has revised the absurd headline on a story that earlier read "Wall Street Takes $4 Billion From Taxpayers as Swaps Backfire" so that it now reads "Wall Street Collects $4 Billion From Taxpayers as Swaps Backfire." By the logic of the earlier headline, you could have said "Bloomberg Takes Millions in Terminal Fees From Wall Street." There's a subtle difference between a "take" and a business transaction that two parties enter into willingly. If the swaps had worked out differently, would Bloomberg be writing "Taxpayers Take $4 Billion from Wall Street"?
Read More...
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Michael McDonald
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