Monday, January 5, 2009

Fed to Buy Securitized Mortgages

Wall Street produced tainted Tylenol financial products, only they didn’t completely clear the shelves.

Which investor wants to purchase securitized debt? None, that’s why the Fed is doing it, $500 billion worth.

Which insurance companies want to insure/reinsure airlines? None, that’s why the Transportation Department is doing so under George W.’s December 23rd order.

The Wall Street hooker looks old and ragged. She’s showing more skin than usual trying to get customers back in the market. Some things are a very hard sell.