Tuesday, September 23, 2008

What did you expect?

Bloomberg article--Goldman-Sachs and Morgan-Stanley will benefit most from the bailout--if it happens. Gee now remind me--where was Hank Paulson formerly CEO?
In the 1990s, a Japanese government effort to buy troubled assets from banks to free up lending failed because sellers weren't willing to accept the prices offered,

Not a problem for Paulson here, as he plans to offer inflated prices for the securities. Also he plans to get the job done by hiring investment bankers at their accustomed (seven figure) salaries to buy the securities. A cozy deal all around. And no new regulations.

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