On Mar 25, 2008, at 12:51 AM, Jon Baranov wrote:
The takeover of NS could have been more costly in absolute terms, but that's not the point. Take a given bank. You can either take over the bank, assuming the risk of its assets, or you can pay a private bank to buy the crappy bank from its shareholders. The Fed "paid" JPM to assume the risk and pay off shareholders. Simple arithemetic would seem to imply that the latter is more costly, no?
I don't know how you do "simple arithmetic" without any actual numbers. Doug _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
