...the solution to the problem lies in stricter regulation of credit derivatives that forces them to be tied directly to underlying assets. Unfortunately, the plan to "detoxify" mortgage and debt-backed derivatives announced by Secretary of the Treasury Timothy Geithner comes up short in this area.A great post by Wizbang!
Thursday, March 26, 2009
Curing Toxic Assets - And Why We're Doing it Wrong
When you sweep dirt under the rug, you aren't really cleaning the house.
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