Tuesday, November 16, 2010

You Think?

I suppose we could always just bail them out for the third time.*

Widespread problems in how U.S. lenders documented foreclosures could spark a wave of legal challenges resulting in massive losses to banks and serious new troubles for the housing market, a federal watchdog warned on Tuesday.

*Everyone pretends not to remember, but the Fed did what TARP was originally supposed to do, eat big shitpile, then the Treasury lent them a bunch of money and also ate AIG.