that they actually put this on air, but I have to admit, it's pretty effin' hilarious.
Think they must've hired somebody from the Daily Show on their writing staff. Go MSNBC.
Thursday, April 16, 2009
Monday, April 06, 2009
this makes far too much sense
to ever be implemented. but, if you'd like to know what the government is supposed to do with insolvent banks, you should read this.
just remember, everybody. the solution to the credit crisis is actually pretty simple and straightforward, and only requires that some laws be passed allowing the government to take over investment banks and bank-like entities in exactly the way that they are already allowed, even compelled, to take over insolvent commercial banks.
the reason for all the pretzel-twisting and the public-private partnership ponzi scheme is just so that stakeholders who underwrote bad bets and can't or won't pony up now that they lost won't have to lose the money the put on the horse with three legs and a bloodstream full of steroids.
just remember, everybody. the solution to the credit crisis is actually pretty simple and straightforward, and only requires that some laws be passed allowing the government to take over investment banks and bank-like entities in exactly the way that they are already allowed, even compelled, to take over insolvent commercial banks.
the reason for all the pretzel-twisting and the public-private partnership ponzi scheme is just so that stakeholders who underwrote bad bets and can't or won't pony up now that they lost won't have to lose the money the put on the horse with three legs and a bloodstream full of steroids.
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