"Guess what? They are already on the hook", said Secretary Paulson. Chairman Bernanke said that taxpayers could even make money once the economy recovers and just minutes before that he claimed he is an expert on the depression. Is this the Muppet Show? Then it should be aired at a different time and different channel.
I heard that “experts” are evaluating these toxic things. I wonder where the guys have been hiding so far or are we producing a breed of experts who are genetically created in some labs right now I do not know of?
Furthermore, Bernanke said the marks are already at fire sale prices. Who made him the expert? But anyway, his intention is to buy above the fire sale price. This reverse auction thing is complete bullshit – it’s going to be done by Wall Street, who wants prices high so that they can manufacture the lowest price to be accordingly. That’s neither a smart nor a smooth process for taxpayers. These guys have screwed up everything so far and right now it does not sound any better.
Mr. Paulson, the only people confusing permanently things are the SEC, the FED and the Treasury!
God bless the world with these guys in charge. What will come upon us is not a pretty sight to behold.