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Non-Tech : Banks--- Betting on the recovery
WFC 84.71-1.8%3:59 PM EST
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To: Sr K who wrote (530)5/16/2009 12:31:30 AM
From: Hawkmoon   of 1428
 
Yep.. and given that BAC literally had a gun held to its head to acquire ML, it means the Fed/Treasury (taxpayer) holds some responsibility for making the insurers whole and getting the financial surety system back to some semblance of its previous stability (depending how you define stability).

What's truly sad is that the Treasury didn't seem to want to include the insurers in the original TARP, despite recapitalizing them would have likely done wonders for preventing further deterioration of those RMBS assets.

Now the courts get to decide and the outcome is going to TRULY BE INTERESTING.

Hawk
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