When do they start handing out the Little Red Books?

Filed in National by on October 9, 2008

U.S. May Take Ownership Stake in Banks

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hiding in the open

Comments (6)

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  1. Joanne Christian says:
    October 9, 2008 at 2:16 pm

    Did you mean those little Gideon Bibles? That was 5th grade–you didn’t get one?

  2. Donsquishy says:
    October 9, 2008 at 2:17 pm

    I wore out the pages

  3. Joanne Christian says:
    October 9, 2008 at 2:21 pm

    There’s hope–I thought you were going to say “ripped”.

  4. Donsquishy says:
    October 9, 2008 at 2:42 pm

    rubbing my ass with it

  5. cassandra m says:
    October 9, 2008 at 3:01 pm

    The thing is that Krugman and Brad Delong and others have been cheerleading for this for some time (and I’ve posted some of the links previously). This is the Swedish solution — the banks get capital and some payment guarantees and the taxpayers get a hefty share of some senior debt. If the bank really is that shaky, it gives the Feds time to liquidate that bank in an orderly fashion. This is not unlike what Warren Buffet just did with Goldman Sachs (without the loan guarantees and the ability to liquidate and without the hefty revenue slice he took).

    The Brits are putting this into place (Iceland just did it too), even while some smart guys here were lamenting that this scheme was likely too progressive for the US.

    Hearings, people. Not giant financial steps without better information, please.

  6. Joanne Christian says:
    October 9, 2008 at 3:09 pm

    Hef-that was beyond LOL-I swear, I have a spasm, and it’s painful to laugh too–and call for the husband…later

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