I don't understand this. Not one word.
CNBC reported this afternoon that Treasury Secretary Henry Paulson is shopping an idea around Capitol Hill whereby the feds would create a virtual landfill for the toxic assets now owned by financial institutions.
Such a move would allow institutions to dump those assets of dubious value -- mortgage-backed securities and the like -- onto taxpayers. The institutions would clear their books which should allow them to start lending again and free up the credit markets.
[From Wall Street mega bailout ahead?: The Swamp]
All I know is, nobody in DC is wanting to bail me out.
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