1956

Haven't We Heard this Market Song Before?

In real terms, TMA wasn't saved. Goldstone and the banks are using TMA as a conduit to reliquify the banks. Your analgy to BSC is questionable as JPM is purchasing BSC. In TMA's case, investors are LENDING TMA money to be transferred to the banks for the privilge of staying in business for an additional year. I'm wondering what negotiating school Mr. Goldstone went to.