Saturday, October 11, 2008

Backdoor Bailout, Part II

Today's NYT.
Money quote (heh):
Treasury officials said they hoped to make the first capital infusions within the next two weeks. That would be earlier than any government purchases of unwanted mortgage-backed securities. One reason for Mr. Paulson’s rapid reconsideration was that global financial markets have been going downhill faster than anyone had seen before.
Smart people on Charlie Rose last night, including Steve Pearson at the WaPo, said months, so I'm thinking faster is better. And cheaper.

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