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And, yes, I DO take it personally: O.H.! M.Y.! G.O.D.! What fresh Geithner hell is this...?
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Monday, March 23, 2009

O.H.! M.Y.! G.O.D.! What fresh Geithner hell is this...?

now we're offering FINANCING TO PURCHASE TRASH...? please make the bad man stop...!!
U.S. offers financing to woo buyers of toxic assets

The United States offered on Monday financing for private investors to help cleanse banks of up to $1 trillion in toxic assets that are blocking lending and worsening a deep U.S. recession.

Markets rallied on the news, in contrast to a disappointed reaction last month to the bare outline of Treasury Secretary Timothy Geithner's proposed public-private partnerships.

Questions remained about how the toxic assets would be priced and the stakes are high for Geithner as he seeks to convince investors he has a viable plan to get credit flowing again.

check the following quotes to which i have added my own emphasis...
"If the U.S. authorities actually succeed in buying up to $1 trillion of 'toxic assets', it would be considered a significant step," said Mamoru Yamazaki, chief economist with RBS Securities in Tokyo.

"However, the markets will be disappointed if the programs do not move forward due to problems regarding how the asset value is measured."

translation: "if the assets are valued correctly, they'll be worthless and, since everybody ALREADY knows they're worthless, if they're over-valued, nobody's going to touch the shitpile anyway...

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