Le Philosophe

PPIP Is RIP: What a Dead Cat Can't See, A Dead Cat Don't Know

I see what The Treasury and Fed and FDIC are doing. Its a shell game. Moving things around in open view. With moves like these who needs Freddie Mac and Fannie Mae when you've got the FDIC guaranteeing the assets. I can't believe Sheila Baird went along with it. If I were a bank with Toxic Assets I would sell them and buy someone elses and the Gov't (Taxpayers) will guarantee 94% of the capital. Such a deal!!!!!!!!!!!!!!!!!!! Maximum write down? 6% .... Banker's heaven...........