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Saturday, October 04, 2008


how TARP works

via london banker -- you won't see it explained more clearly. unintended consequences are fearsome and it may or may not "work" depending on what your expectations of it are -- but the engineering of the fed bailout will be a political insider racket regardless.

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holy krap, gm. the london banker piece is a doozy. i agree: a better piece can't be found to lay out how this bailout will all play out. and the republicans will take it all back in 2012! they are brilliant - and ruthless. the democrats are fools. gonna be a tough 4 years, anyway.

thanks for leading me to this incredible piece.

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