Treasury Plans to Buy Assets at TWICE Market Value

[Truth2Tell]

From: BBC

...during the hearing Fed chairman Mr Bernanke disclosed that the Treasury would attempt to buy these debts from banks at close to their "hold-to-maturity" value, not the market value.

"In practice, it means banks who sell their debts to the Treasury would receive cash equivalent to something like twice the value in their books of these poisonous assets," our correspondent said.

"In other words they would book a profit from selling to taxpayers.

More http://news.bbc.co.uk/1/hi/business/7631500.stm">Here.

The insanity never ends.

[mediaman007]

1. Throw this bunch out before we deal!

[Truth2Tell]

4. amen nt

[Mojambo]

2. That is the dictionary definition of unfuckingbelievable. n/t

[indepat]

3. Just 'puke governance as usual: any penny paid more the FMV is fascist corporate welfare

:P