Why the Latest Scheme to Fix the Banks Sucks
By
MikeAdamson
on April 1, 2009 at 11:20 am
Clusterstock points us to a couple of excellent articles on why the Obama Administration’s Public/Private Investment Plan is a bad deal for taxpayers and may not work anyway. Money manager David Kotok uses coin flipping to illustrate why the deck is stacked while Nassim Taleb decries the latest version of the Privatise the Profits/Socialise the Losses exercise which always benefits the usual suspects.
The Obama gang just can’t shoot straight on this one.
