Credit Default Swaps
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reported on NPR 10/4/08 on This American Life that for the taxpayers to purchase this huge, stinking pile of garbage assets and get nothing in return is certainly possible.
However, someone in both Sen and House has added language to the bailout bill to give the Treasury Secretary the OPTION of requiring stock in the failed banks, along with the worthless assets.
Sort of like yes, we'll buy your bad debts, but we also get a share of your business.
Q: How do we force them to do this now?
kinimalia 3 years ago