Last week, the Federal Deposit Insurance Corporation, which was supposed to provide finance for investors to purchase bubble-era bank loans, postponed plans for a pilot sale, saying it was less urgent than had been thought.
and a few paragraphs later in the SAME article:
The Federal Reserve – which was to provide loans to investors to buy bubble-era securities – has only confirmed it will finance bubble-era commercial mortgage-backed securities.
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So is the FDIC going to provide the welfare money to the banks to buy worthless stuff from each other or is the Fed?
If the guy writing the article for the Financial Times is so confused about who was supposed to be providing the taxpayer-funded "financing" and/or the "loans" that the bailed out banks were supposed to use to profiteer on this program...you think you have a chance of following the queen?
Three card monte is illegal on the streets of NYC...but it's legal in DC.
