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OBAMA'S LAMENT--A COMEDY OF ERRORS

Obama, Y'all are on the right train but in the wrong tunnel. Y'all have allowed TARP money to be used to buy CDSs thus paying the insurance premium to boot.Just as in Dubai World ("Don't cry for me UAE"), RBS is on the hook for the insurance counter trade and thus the UK Chancellor of the exchequer is picking up the tab by nationalizing ever more of RBS. Same thing is goin' on in the good ole boy US of A. The balance sheets will look nice and spiffy when the CDSs bought with TARP money and their counter trades comes due and THE STREET can't pay JPM. But Holy Ghost of Genr'l Custer, the Obama Cavalry will lead the charge into the choke hold of unsuspecting financial shenanigans. Y'all would think that these boys got a death wish or somethin'.