Remember Maiden Lane II&III, the diabolical looting of the treasury by blood sucking squids, banksters, the evil Timmeh and Larry, and the hapless sucker Obama who just didn’t get it?
Meanwhile, the assets, particularly the CDOs, have risen in value. Government sources suggest that the funds, managed by Black Rock, both have the capacity to pay back their loans, and, in the case of Maiden Lane III, to generate billions in profits for the Fed.http://www.newsweek.com/id/234777
At present, it looks like the biggest sunk costs of the bailout may be the auto bailout: the money spent to protect the jobs of blue collar industrial workers. It’s almost as if a Democratic executive had pushed the bailout to meet Democratic priorities instead of being another Republican cronyfest. So we can expect a complete re-evaluation of coverage by Matt Taibbi, Atrios, Digby, FDL and the others who condemned Geither and Obama – when?
