The wonderful blog CreditCrunchedUK provides us today's winning entry in our FUBAR competition.
It goes like this: Using taxpayer money, and probably through third-party entities, the big banks(you know, the ones we are rescuing from their toxic assets?) are evidently planning to participate in both sides of Geithner's newest bail-out plan, by bidding up one another's worthless trash that will be absorbed by the taxpayer.
Crony Capitalism=Moral Hazard
If we fail to factor in people's essential depravity into every plan we make, we end up unpleasantly surprised, and looking foolish.
Most small bankers, and small business people, seem to understand that intuitively.
Does common sense just get beaten out of students in MBA programs?
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