New Deal: Buy a Toaster Get Investment Bank for Free

By Dietrich T. Schmitz on September 19, 2008 9:55 AM
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toaster.jpgAll of the losses that Wall Street incurred as a result of the cascading Sub-prime lending problem through yesterday have been erased on the news that the Feds plan to create some form of Financial structure to buy out the 'bad debt' (illiquid Mortgages) of ailing Financial groups.

This effectively shifts from the balance sheet debt from Banks over to the U.S. Federal Government.  The question is how will the Feds manage that debt in terms of packaging and resale?  Will the US Taxpayer pay for it?

That's one expensive toaster!

Your thoughts?


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