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"If there was any value to be found in this bad loan paper, private investors would have sniffed it out long ago."
Mar 23 02:57 am
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All Comments by Mark in SF »The Toxic Assets Plan - Yes, It's a Subsidy [View article]
Yep. Why isn't buffet buying up this stuff for 1/2 it's "real" value.
Sad fact is we now live in a oligarchy. The rich are bailed out under they guise of "rescuing the economy". The only upside would be if the rich are then asked to pay for it by a 70% tax rate over $1M. I might put my pitchfork away if I'm not going to be asked to bail out some $10M net worth person that had an AIG CDS insured wealth management fund at Goldman.