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Tuesday, September 23, 2008

Step right up folks...

Saturday's Wall Street Journal noted that the Resolution Trust Corp. ultimately wound up owning "shopping centers, homes and resorts, Picasso and Warhol paintings, a 30-horse merry-go-round, ... a drawstring made from Mary Washington's gown and 800 units of semen from a registered Brahma bull."

I wonder what this round of bailouts will bring?

Must reading: Charlie Calomiris tells it like it is here:


Andrew_Grodner said...

That's one of the clearest explanations I have seen. Thanks for posting.

Is that fair to say that the keyword here is the "illusion of affordable housing"? Another words, is that the case that when something sounds too good to be true (cheap mortgages), it probably is?

Andrew_Grodner said...

By the way, are there any alternatives to the plan proposed by the government? Are alternatives listed in the following link realistic options?