Oh Well, So Much for Conservative Predictions
I recently predicted that some time soon the FED would disclaim that they were actually going to start buying bankrupt companies with their newfound policy of accepting equities as collateral, but I thought it would be weeks before we’d hear about the first one.
No, it turns out it took them less than twenty-four hours to buy AIG.
So, what do you do if you’re 9.6 trillion dollars in debt? Let’s start buying up companies that have failed, and stick the taxpayer with the bill.
Brilliant!
I wonder who the government will buy next. Elite Properties is probably still too liquid.
