Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Gaming the PPIP

An article this morning on TheStreet.com discusses the desire of banks who will sell toxic assets to the Private-Public Investment Plan (PPIP) participants to also be buyers of the same assets.  The ridiculous nature of this proposal is discussed in detail.  This is so brazen an idea that it is difficult to imagine that it could be allowed to occur.

But then, hasn't the unimaginable already happened?