Columnist David Ignatius argues here that the Treasury and Obama administration, who are led by two of the men in charge in the 1990s when 'securitizing' toxic assets first took off, have made little progress toward fixing the problem.
The good news: the financial community has become wary of accepting either U.S. government funds or dubious securitized packages. Maybe the market will simply fix this problem on its own, now it has realized that the silver lining of government intervention to save companies 'too big to fail' has a large black cloud attached to it. (Thanks to Investor's Business Daily.)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment