2009-03-23

Obama Plan Seeks Private Investors to Buy Risky Assets - NYTimes.com

Obama Plan Seeks Private Investors to Buy Risky Assets - NYTimes.com:

One institutional investor said he was surprised that the government was lending so much of the money, saying that private investors have been willing to buy up pools of mortgage-backed securities with less “leverage” or outside borrowing than the Treasury proposed on Monday.
I can imagine being angry but not surprised. The government is embarking on the greatest market distortion exercise in the history of mankind. What's surprising about that?
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