Friday, February 01, 2008

Super Shitpile II: Electric Boogaloo


Source: 8 banks form consortium to seek rescue plan for bond insurers.

Banks working with bond insurers and NYS insurance dept.

Variety of solutions are being considered for rescuing bond insurers.

Kudlow loves it, AND IT IS NOT A GOVERNMENT BAILOUT SO STOP SAYING THAT, so you know it's bullshit.

This is just another ploy to delay the day of reckoning, and it will work as well as the last time the banks got together to try to start a fund to bail themselves out.