Tuesday, April 14, 2009
Hutchinson on Failure
Martin Hutchinson (MH) has a 9 March 2009 post, which among other things, attacks TALF Here's a link: http://www.prudentbear.com/index.php/commentary/bearslair?art_id=10200. I agree with MH. Among other things, MH called the CDS business "wholly unsound". Amen. The Obama administration's program will only "divert $1 trillion into the most unproductive assets on the planet, the lowest quality mortgage, credit card and commerical real estate loans made during the crazed easy-money bubble of 2004-07". Precisely.