Now, the financial “experts” of our world tell us Czar Henry’s Damaged Derivates Dump won’t actually work until/unless we can get home prices stabilized.
And, gee, the proposals to buy up some defaulted houses, let judges adjust some bankruptcies, etc., would have done exactly that.
Barney (Not So) Frank promises Rep. Barney Frank, D-Mass., the Financial Services Committee chairman promises the sand-down-the-rathole measure passed Friday was just the beginning of a much larger task Congress will tackle next year.
Sure, right. That would included Barack Obama, assuming he’s elected, making sure this is OK with top campaign donor Goldman Sachs, right? And, with his Treasury Secretary, either a retained Paulson or NY Fed head Tim Geitner, right?
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