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re: Banking Sinking Faster Than Gov Can Bail
Posted on 12/30/08 at 10:21 am to Rivers
Posted on 12/30/08 at 10:21 am to Rivers
I'm not sure how much price discovery would have mattered. By the time they got around to trying to recapitalize, the only people buying distressed banks were going to be the OTS/FDIC or some kind of Fed-backed takeover. As it stands now anyways, banks are using (or making it known that it is their intent to use) the TARP funds to buy up other banks anyway.
ETA: Don't mistake my comment to mean I think TARP is a good thing (I almost always agree with NC posts), I'm just nitpicking at her comments for the sake of nitpicking.
ETA: Don't mistake my comment to mean I think TARP is a good thing (I almost always agree with NC posts), I'm just nitpicking at her comments for the sake of nitpicking.
This post was edited on 12/30/08 at 10:26 am
1
Posted on 12/30/08 at 10:46 am to kfizzle85
I don't want to derail this thread into a slew of rants about TARP but I do want to say that untill the freedom of information requests, filed by Bloomberg and Fox seeking info from the Fed and Treasury, have been ruled on by the courts then we have little idea what funds have gone where and what those funds have been used for.
Basically, the Fed and Treasury have said by their refusal: 'It is none of the taxpayer's business what we are spending their money on.' I find that more than a little irritating.
Basically, the Fed and Treasury have said by their refusal: 'It is none of the taxpayer's business what we are spending their money on.' I find that more than a little irritating.
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