Wednesday, March 25, 2009

Citi, BofA are shameless

Voltron says: They are buying more toxic assets so they can re-sell them at
a higher price to buyers who are using government aid. This is classic
"unjust enrichment". The point is supposed to be to get the toxic assets
off of their books, not encourage them to buy more; but like most government
programs this one will have the exact opposite effect.

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