Heavy Lifting - thoughts and web finds by an economist
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Monday, September 29, 2008

FAIL!!

Comments:
I find this failure disappointing. While I am a big supporter of free markets and dislike the idea of socialization/nationalization of private enterprises, the US government is currently the only investor with deep enough pockets and a long enough investment horizon to take on these crap assets. If banks did not have to mark-to-market and then try to make earning for the quarter I suspect many would happily wait this out until values and volatility returned to normal. Unfortunately they do not have the luxury of time whereas the US government can wait.
 
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