NYT--The Treasury Department’s $700 billion bailout program has stabilized the banking system, but it has done little to prod banks to fully deal with the troubled loans on their books, a Congressional oversight panel said in a report.
“The nation’s banks continue to hold on their books billions of dollars in assets about whose proper valuation there is a dispute and that are very difficult to sell,” the panel said.
WB7: You find out your best friend has become a serious heroin addict. His body is full of all kinds of illegal toxins. You want to help him before its too late. So you bring him home, give him a meal, lend him your best suit and hand him $1000 to start fresh. The next morning he walks out the door.
Have you solved the problem?
Are you going to be surprised when you learn that he has managed to start a new life as a successful MBS trader on Wall Street?
.jpg)
Posts
No comments:
Post a Comment