“The Obama administration is leaning toward setting up a ‘bad bank’ that would buy toxic loan assets from large troubled banks such as Citigroup in a major new program that would be run by the Federal Deposit Insurance Corp. and is likely to cost at least $1 trillion.” (Washington Post, Friday)
“Bad bank” is right.
FEE Timely Classic
“The Free Banking Alternative” by Donald R. Wells and L. S. Scruggs
Friday, January 30, 2009
“Bad Bank” Is on the Way
