“The Obama administration disappointingly seems to be following the same path as the Bush administration,” he said.“The basic strategy appears to be to try to bring us back to 2006 by propping up asset prices and reflating the popped credit bubble, subsidizing bank creditors and shareholders, and delaying needed bank recapitalizations, while hoping for an economic recovery.”More from the interview with David Einhorn.
FTAV’s further reading
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Easter eggs‚ spy cats; quant credit, synched brains
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