Wednesday, May 27, 2009

The Ickey Asset Shuffle

The first link: WSJ story about banks wanting to effectively keep assets and let the government (us) eat the losses.

The second link: FDIC's response

Loyal reader JP should have a great laugh.


MK said...

Of course, this does leave open the possibility of collusion: you buy my junk, I'll buy yours.

But they wouldn't do that, would they ???????

buchlajoe said...

actually , thats what ms bair is saying when she says "banks will not be able to bid on their own assets" so what? they can (and will) bid on each others ... it's mind boggling how everyone falls for this crap ... thanks mike