Naturally, Wall Street was delighted with the program to buy the bad assets. Who wouldn't want to offload their junk to the government at inflated prices? The banks could have sold many of these assets on the open market at the time but not at prices they would have liked. There were, of course, other assets that the private sector wouldn't touch. Some of the so-called assets were actually liabilities that could explode, eating up government funds like Pacman.
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