Next thing you know, they’ll be recommending that a good way to save financial markets is to insure all these housing mortgages, then bundle up all of those insurance policies together to sell as securities to investment companies, and then further insure the Wall Street banks that buy these securitized mortgages with the assurances of taxpayer and printing press-funded bailouts. It all worked out so well for the economy before, it just has to work again, right!?
Read the rest of my commentary at The Silver Underground.
Editor in Chief, THL
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