It looks like Obama and Geithner want to create a hedge fund for the hedge funds. They are offering to guarantee the bad bets, which is what the derivatives market did. That's the market that just crashed and wrecked our economy.
If I understand what they are offering, investors can buy up questionable assets at a huge discount. If the values increase over time, the investors get the gains. If the values decrease, there is no loss for the investor- only for me and you- the taxpayers.
I am bummed. This is more slimey stuff going on in the dark. What happened to the transparency promise?
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