re: #62 BigPapa

Is there any validation to this story about TARP repayments not being accepted? If so, this is VSS. (Very Serious Shit)

[Link: online.wsj.com…]

The head of Wells Fargo made a very similar complaint a couple of weeks ago, and even the head of BofA has said similar things, … though BofA is trapped because they acquired the super-toxic Merrill (and then didn’t pull out of the deal, because the feds “asked” them not to).

BofA is the lynch (!) pin here.

This was all to save Citibank, since AIG is in a category of its own.

But I will give Geithner and Obama this much slack, the situation is still explosively dangerous, and they have to play the game. Given that, if they play the game a little more the way they want to, it’s very hard to draw the line on what to complain about.

Whatever happens, blame it on Citibank and AIG and a few others of that ilk, to a large extent Obama is just the patsy here.