Ahead of Geithner’s plan (which is a reworking of Paulson’s plan) Bank of America and Citi are buying up toxic securities in anticipation of selling them back to all of us at a marked increase. I don’t ask for much, but I hope this rescue plan doesn’t pass and BOA and Citi stay stuffed to the gills with all the shitpile they can eat.
Maybe this was the plan all along, get the greedy Citi and BOA to eat themselves to death, while at the same time cleaning up the balance sheets of everyone else. Geithner’s a genius. And I guess Citi and BOA aren’t using their TARP money to loan money like they’re supposed to. Oh well.