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Actually, you're right with regard to my gratuitous Wall St. bashing. It's just so easy and fun, even if it is sometimes not fully justified.
With regard to the article's bemoaning that the states are only getting 30-40 cents on a dollar seems to show the author doesn't know a lot about compound interest. To wit, this passage puzzled me a bit.
Many states receive only 30 or 40 cents on the dollar. In a typical example, Wisconsin would have been entitled to about $5 billion in payments through 2025. Instead, it settled on one payment of $1.6 billion in 2001.
Did somebody expect Wall St. to lend Wisconsin $5 billion over 25 years with no interest?
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As long as the roots are not severed, all will be well in the garden.
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