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You can learn a lot by simple observation. Last week, there was a brouhaha as several banks nearly collapsed, and then some did. The usual discourse will be set with educated people explaining how something was right, wrong, or neither. A joint statement by the FDIC, the Federal Reserve, and the United States Treasury affirmed their resolve to protect the system. While most coverage will try to confuse you with a labyrinth of econobabble whose goal is to convince you that it’s too complex and you can’t understand it, the reality is quite simple. In their attempt to hurt the right people, they accidentally hurt the wrong people. (more…)