Making sense of the market
Fat cats to the rescue, aided by America's growing legions of socialists. A friend who works the industry tells me that he is expecting to buy toxic assets at a price which has actually been improved by the AIG furore. The federal government were forced to make the deal even sweeter at the last minute to compensate buyers from the potential risk of having punitive taxes foisted on them if they make a proft and their homes picketed etc etc. So the populist congressmen have cost the taxpayers they purport to back even more money. Strange world, the market: though in America you'd have thought they'd have understood it better. Perhaps they do: the anger is manufactured largely in 24-hour news studios and on Capitol Hill - out there in the nation there is still .
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