Lawrence Summers and Nancy Pelosi delivered the bad news this morning. The remaining $350 billion of TARP money is going to be insufficient to take care of the banking system. The Sunday morning news shows are a good way for politicians to ladle out bad news gently. Here is what Summers and Pelosi had to [...]
Washington is doing what Washington does best. Resurrecting old ideas and dressing them up as a new solution. The latest is the “aggregator bank”. Some sort of financially engineered solution to the ongoing problem with our banking system. It’s just new lipstick on the old TARP pig. The concept is the same one they have tried [...]
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