Don’t miss the post from Rortybomb explaining how the Geithner Plan will be gamed to loot the FDIC:
If you think that all these subprime loans are essentially good, with a few stray bad ones in there, then this is a great deal for taxpayers. This would be surprising, since nobody wants to go near these things. If you think that these subprime loans are shit, and there will only be a few good ones in there, then we are essentially transferring money to banks and hedge funds straight out of FDIC.
Lame
