Thursday, Nov 20, 2008
The painful consequences of abandoning asset auctions
The Economist: The TARP trap
Holders of toxic mortgage-backed securities had pinned their hopes on the American government’s plan to buy large piles of the stuff through auctions as part of the Troubled Asset Relief Programme (TARP). The decision on November 12th to abandon that approach in favour of direct capital injections has left them shattered.
Posted by gardeniadotnet @ 08:22 PM (282 views) Add Comment
1 Comment
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1. planning4acrash said...
Capital injection is newspeak for hostile takeover bid. Was the plan all along, Corporatist public-privatization.