Let’s think this through.

Banking trade groups are lobbying the FDIC to let banks bid on the same assets they are putting up for sale under the PPIP.

Even someone who knows nothing about finance would have to find this suspicious. What possible reason could a bank have to purchase assets from itself?

Are you paying attention, Mr. and Mrs. Taxpayer? What’s that? American Idol is on? Oh, never mind then.

1 comment to Let’s think this through.

  • snoopy

    If the Federal Reserve can purchase Treasuries, why can’t a bank bid on its own assets?

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