Insuring Defeat

By: GreyCloak (Diary)  |  September 27th at 05:57 PM  | 

I can’t believe our Republican leadership let an insurance salesman in the door. Some have proposed that we just guarantee the prices (provide insurance) for the buyers of securities. It is said this would cost less than $700B. “Insurance” guarantees that taxpayers will lose money on every mortgage backed security (MBS) that defaults. And make little on any that work out. Bad as it is, | Read More »