No Net (Loss)
I read through the details of the T.A.R.P “public private partnership” and was struck by how the govt. has gone to extraordinary lengths to bribe private investors to take a risk. Basically the bribe entails removing the risk. I’d like some of that in my investment landscape please. I can see the backlash now as hedge funds reap massive Taxpayer/Govt-backed rewards, regardless of whether the toxic assets they took off the banks’ books grow or sink in value.
The Obama administration is well aware of this, and is running interference by describing the private investors as the good guys. The heros. The patriots. I am having a slightly hard time with that analogy.