Operation Gratitude Care Package Weekend!

Tuesday, March 24, 2009

Then the Nub of Mr. Geithner's Gist...



...if I understand it correctly, is that Fannie Mae and Freddie Mac buying up toxic assets and creating financial 'instruments' secured by them was a bad idea that cratered the mortgage industry and collapsed the economy, but the Treasury Department buying up toxic assets and creating financial 'instruments' secured by them is a great idea because we're going to pay for them with folks' pension money.

I guess the right letterhead makes all the difference.

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