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Debunking the myths about the Financial Crisis
Fortune magazine’s Allan Sloan attempts to the myths that have sprung up around the Financial Crisis. One widespread myth about the crisis is that the US Government bailed out the owners of the banks, which is patently untrue when one considers that shareholders in financial institutions such as AIG, Fannie Mae and Freddie Mac have been essentially wiped out. In a follow-up article, Mr. Sloan addresses criticism that the private sector should have cleaned up its own mess.