Nader’s take on the banking crisis and how credit unions have avoided it

Here is a great article by Ralph Nader which explains how, for the large part, small credit unions have been shielded from the current credit crisis. The basic premise of Nader’s argument is that credit unions have avoided financial ruin due to their not-for-profit structure that inherently avoids excessive risk and dangerous leveraging practices. It’s a quick read that is clearly written and easily digested.

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