Neel Kashkari, Interim Head of the Office of Financial Stabilization, Market Comforting, and Securitized Hand Holding announced a plan to invest in healthy banks by offering attractive terms to get them to participate.
Not only “healthy” banks but only ones that are so healthy they have to be offered “attractive terms” to participate!
I can just see Kashkari following in the footsteps of Sec. Paulson and kneeling to some “healthy” bank CEO begging him to please, please take the government’s money. No red tape, no oversight, we don’t want anything in return. Just please, please take our money and make our world rock.
What’s next, a national health plan for the healthy? National life insurance for the newly departed? How about a buy one Treasury bond and get one free coupon?
All we can do is hope that they are saying one thing and doing another – how pitiful.
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