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Yes, I think (evil apart) that Paulson and his team may have come to the realization that shovelling out the Shitpile™ is beyond their capacities, in volume and in time.

So balance sheets will go on carrying unpriceable assets. How Paulson can tell us the risk of systemic collapse is taken care of, is perhaps a question for lie-detector treatment.

Can.Down.Road

by afew (afew(a in a circle)eurotrib_dot_com) on Tue Nov 18th, 2008 at 07:25:15 AM EST
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