We actually threw $600 down a different, nearby hole.
That hole, fwiw, was a stupid hole, and I wish it had required Congressional approval so that it could have been shot down as it deserved to be. Individual institutional bailouts are idiotic.
Buying up assets that have tangible value but don't currently have a market in which to sell them, when you can afford to sit on them for a decade and then sell them off at a profit?
Good idea. If I had $700 billion, I'd do the bailout myself, and I'd walk out a trillionaire.
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Date: 2008-09-30 05:16 pm (UTC)That hole, fwiw, was a stupid hole, and I wish it had required Congressional approval so that it could have been shot down as it deserved to be. Individual institutional bailouts are idiotic.
Buying up assets that have tangible value but don't currently have a market in which to sell them, when you can afford to sit on them for a decade and then sell them off at a profit?
Good idea. If I had $700 billion, I'd do the bailout myself, and I'd walk out a trillionaire.