Monday, February 09, 2009

The Geithner plan

Apparently they went with low Popahiram* this time.
It now seems like we're going to go the 'bad bank' route. Only instead of buying the crappy assets at inflated values (to absorb the bank's loses for them), we're going insure the assets so we can absorb the losses dribbled out over time.


*

Update: Whoops! Now we're not getting that anymore. Must not have been slimy enough.

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