he’s not an excellent linguist but the scenario he proposes is worrisome… http://www.youtube.com/watch?v=n-arbfLTCtI&eurl=http%3A%2F%2Fbenbittrolff.blogspot.com%2F&feature=player_embedded
FYI someone posted this on Friday. I couldn’t really find anything wrong with his logic.
I thought he made a good point about banks surreptitiously buying the toxic assets back. My only quibble was that he assume that they would buy them back at 100. I don’t see that happening at all. Changing the assumption to 80, per se, changes the rest of the analysis quite a bit.
We’re doomed!