On Tuesday 25 March 2008 07:22:47 Doug Henwood wrote: > > 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.
Perhaps it was really "simple algebra"? _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
