I understand the harsh feelings and sentiments from my opponents and their supporters because I myself have been defeated twice in my political life in the past and I understand very well it is hard to accept your own failure.
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We judged that a sudden disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy with lower equity prices further downward pressure on home values and less access to credit for companies and households.
