Geithner Wrong, Crap Assets Correctly Priced, Say Harvard An

d Princeton Profs
businessinsider.com/insolven … les-2009-4
(Courtesy of Some Assembly Required)

The banks are insolvent, their assets genuinely worthless and government intervention in the process is delaying and worseing the day of reckoning. Hoocudanode? It’s a good thing the insolvent Irish banks, their worthless assets and the interventionist Irish government are different…

We’re all socialist bankers now…

lets sieze the commanding heights of the economy…oh wait…they be flat…

Geithner knows what he is doing:

huffingtonpost.com/jeffrey-sachs/the-geithner-summers-plan_b_183499.html

huffingtonpost.com/2009/04/08/geithner-bank-plan-faces_n_184122.html

From - huffingtonpost.com/jeffrey-s … 83499.html

Have I got this totally wrong or is there another step to this -

The banks can then buy back the actual assets from the bankrupt proxy.
This leaves them with an almost full ‘market value’ profit and they could eventually repurchase the asset itself at a ‘bankrupt valuation’.

I’ve read that it might be a dumb plan but it can’t be that dumb, can it?

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Yes…But you must be one of the golden 5 who can take adantage of the plan!