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CIT Is the Ultimate Fed Bailout Play

By Jim Cramer

 About this article:
 The headline in the USA Today Money section is stark: "Is This Another Great Depression?" That's a headline that was worthy of Dow 8,000. It is what caused us to go down there. Ever since we got there, governments around the world have decided to get into the banking business. The Fed is now one of the biggest banks on earth, and all I can say is that's the exact opposite of what happened with the real Great Depression, when there was no direct intervention. The Europeans got this thing going. They decided enough with niceties; let's just make the banks safe, and that will keep the deposits in and end the runs. Once we end the runs, then it is only a matter of time before they lend, and that time is worth waiting for. Now, we should be really clear on this: If the Fed's the biggest bank,...

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