gobbleknoll

A Resolution Trust Corp. 'Solution'?

Catnip for the market. It does nothing to solve the fundamental problem: housing prices need to fall to historical income ratios while current defaults must be written off.

The taxpayer may turn a profit on RTC 2 over the years-- but of course he didn't ask to invest in this investment. Is that a free market? And what message does it send to banks? You can get away with it and someone else will handle your really bad bets.

I would be mailing these clowns in Washington sacks full of manure if I were an ex-Barclays (Lehman) employee right now.