Developing Affordable Housing Ecosystems World Wide
From the so-dumb-only-a-genius-would-propose-it department comes the following tale of Washington’s incestuous and recursive path to policy change, as uncritically reported in the New York Times:
WASHINGTON — Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government.
Is this a real plan? Or just the dog [...]
[Continued from yesterday's Part 1.]
Some weeks back, the first banks not only repaid their TARP advances (some of which they took under intense pressure to accede) but also bought back their warrants, for cash. You’d think that seeing banks get out of hock and giving our deficit-ballooning government free cash would be a good thing, [...]
Now that the first TARP-repaying-bank warrant repurchases have been completed, how did the repurchasing banks do, and how did we American taxpayers do?
Are we taxpayers winning?
A month ago, Treasury first cleared ten banks to repay their TARP funding, creating rules to sell its glass financial menagerie:
Submitted for your consideration, as discussed in this Wall Street [...]
Because catastrophe is a precondition to fundamental financial reform, we should expect the history of banking and bank regulation, like that of evolution, to proceed in fits and starts, with a great die-off preceding a revival in a new, more complex form.
Genoese admiral Andrea Doria, by Sebastian Piombo
[A similar meltdown] happened a hundred years ago, [...]
In the halcyon days of the early Peanuts comic strip, Charlie brown was trying to console the perpetually-aggrieved Lucy via a bit of soothing wisdom: “Life has its ups and downs, you know.”
My dear, your being down is in the nature of things
“I don’t want downs!” shrieked Lucy. “I want only ups! I want to [...]
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