Tuesday, October 16, 2007

More Finance Fun

Yves at naked capitalism highlights another problem with the super-bailout shell game. The lack of liquidity is due to the fact that no one really knows what these shitty assets are really worth. The fund promises to chisel off the least shitty of the shitty assets in order to give it a bit of respectability, but by doing so they're basically labeling everything else as complete garbage. Or, in LOLCat speak, DO NOT WANT.