Monday, January 28, 2008

A Good Idea, as Heard on a Bloomberg News Podcast While Noshing on Some Choclate Chip Cookies

From the Bloomberg on the Economy with Tom Keene Podcast, economist John Markin with the American Enterprise Institute called for a 100bps point cut on January 30th, and, most importantly, an auction of all troubled assets to ascertain true market prices, a process similar to what occurred to the S&L related bankruptcies. People will get some deals, but the banks will adjust to the new market value of their assets with out further delay. The only reason this has not been done yet, is people don't want to hear the number.


Mosihe said...

LOVE IT!!! if only Moishe had been older during the RTC, he would have vultured property up Sam Zell style. This time he is old enough.

Morty said...

I know Citi Bank doesn't want to hear the number Moishe is willing to pay!