US Treasury to sell $142 bn of mortgage assets
Well, lets see. Warren Buffet intervened a few weeks after Treasury, when the market was a tad less risky, yet he made a 2 times profit - 200% in the financial lingo!
But Treasury had a chance to buy these toxic assets at the fire-sale they deserved to be sold for and could have been talking 5 times or more in profit. Yet it is talking a paltry 10%.
Indeed, TARP's injustice remains the socialization of loss and capitalization of profits.
Well, lets see. Warren Buffet intervened a few weeks after Treasury, when the market was a tad less risky, yet he made a 2 times profit - 200% in the financial lingo!
But Treasury had a chance to buy these toxic assets at the fire-sale they deserved to be sold for and could have been talking 5 times or more in profit. Yet it is talking a paltry 10%.
Indeed, TARP's injustice remains the socialization of loss and capitalization of profits.
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