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Politics : THE WHITE HOUSE
SPY 695.17+0.2%Jan 12 4:00 PM EST
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To: longnshort who wrote (22831)9/25/2008 6:36:18 PM
From: DuckTapeSunroof1 Recommendation  Read Replies (1) of 25737
 
The gist of the Treasury's argument is that the 'market place got it wrong', that the price that is offered in the markets now to buy asset-backed securities is somehow 'incorrect'....

That MARKETS can't get it right and that the GOVERNMENT knows better, and needs to step in and 'correct' the 'mistake' of the markets by paying MORE for these securities than the markets are willing to.

(What does that spell to me? A massive Bush Bank Bailout --- 'Socialism for the Rich'.)
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