Recently, securities rated AAA have changed hands for roughly 30 cents on the dollar, and most of the buyers have been hedge funds acting opportunistically on a bet that prices will rise over time. However, sources said Citi and BofA have trumped those bids . . .”So instead of doing what they're supposed to be doing, these shitpiles (Citi and BofA) are out there doubling-down on toxic assets with our money. Money that was intended to recapitalize them and free up the credit markets is being used to scoop up discounted toxic assets. Do we need any more reason to nationalize these fuckers, fire all the management and start again?
Friday, March 27, 2009
Fire them all RIGHT FU*KING NOW!!!
Here is why the bailout is going to fail.