Toxic Assets
I'm not sure i fully understand Geithner's toxic asset relief plan but I thought it's goal was to remove the "toxic assets" from big banks and financial institutions balance sheets. So, why when Bank of America and Citigroup are expected to ask for more bailout funds in the coming weeks are they buying up these assets? Aren't a lot of the toxic assets up for sale on THEIR balance sheets?
Free markets are the most efficient markets. Government intervention is a lousy idea that will misplace risk and the returns.
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