HT Ace.
This is readable, understandable, and not lengthy.
Besides, it knocks all the twinkle-toe arguments from the 'Pure Capitalist' Morons (and the 'Dirty Little Democrat/Commie' Morons) on their cans.
If you read it, you'll know more about the situation than Herb Kohl does.
Great summary even if his acronyms are a little off. The point that it is not a bailout but the establishment of a market (even if the initial valuation is flawed), is important.
ReplyDeleteIt's better than the sitting around with no idea of the worth of the "toxic assets".