SleepinJeezus's picture

    "Just Joshing, I Hope?"

    From Josh Marshall on TPM:

    The Fed has set up something called the TALF, the Term Asset-backed Securities Loan Facility, which will offer "low-cost three-year funding to any US company investing in securitized consumer loans" including hedge funds.

    Says the Financial Times (reg.req.), "Since the credit crisis erupted, hedge funds have complained that they cannot get the leverage they need to arbitrage away excessive spreads and meet high hurdle rates of return."

    This sounds more like a Saturday Night Live skit than a real news story. Unbelievable!

    Not much different than getting mugged by a thug who then has the audacity to ask you for a ride home. Have these jackasses no shame at all?

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