What this boils down to is that the government will allow banks to pretend that their worthless assets are worth significantly more than what the market will pay for them. In other words, banks will rescue themselves from insolvency by using the magical power of bullshit.But BS is Organic, therefore it is Green!
The fact that Larry “The Housing Bears Are Wrong Again” Kudlow supports such a move should be surprising to no one. After all, Larry has long written about the virtues of a bullshit-based economy:
[ cf Based on bullshit ]
Therefore the halcyon days of Marke To FanTasy Island are still leading the way!
Thus the TreeHuggerInChief is Still The WarPresident, and all is majikal and joyous and Fancifully Green!
Or does that mean that we are once again under the repression of the Leftist Leaning God Hating Dirt Worshipping America Bashing Draft Dodging Kult of Death and Despair...
Oh what is a Young Republican to do without any of the great gilded worlds of Dubya to lead us to the promise land....
Bow down,That is what this nation is really looking for, the Easter Platypus....
bow down,
before the power of Santa --
or be crushed,
be crushed by his jolly boots of doom!
Yeah, that will solve everything...