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March 23, 2009



oh...that's pretty much it Banzai!


(Fidelity Fiduciary Bank, Mary Poppins)

Sing along link: http://www.youtube.com/watch?v=jt9JpYRulSk

Father, these are private equity investors....

If you invest your tuppence
Wisely in Geithner's public/private toxic asset tank
Safe and sound?
Soon that tuppence,
Safely invested in the toxic asset tank,
Might compound!

And you'll achieve that sense of conquest
As the Fed's non-recourse loans expand
In the hands of the private asset managers
Who invest as propriety demands

You see, you'll be part of
McMansions in the Nevada desert
Toxic assets from Detroit to Fresno
Fleets of repossessed trailer parks
Majestic negative-amortizing Miami coops
Plantations of ripening securitised sub-prime....

All from tuppence, prudently
Fruitfully, frugally invested
In the, to be specific,
Geithner's Federal
Financial Stability
Public Private
Toxic Asset Tank!

When you co-invest your tuppence in the Feds toxic asset tank
Soon you'll see
That it blooms into equity returns of a generous amount
And you'll achieve that sense of stature
As your NAV expands
To the high financial strata
That established private equity now commands

You can indirectly purchase first and second home equity loans
Think of the foreclosures!
Mortgages! CLOs! CDOs, synthetic CDOs!
Bankruptcies! Debtor sales!

All manner of public/private enterprise!
Auctioned ALT A! Subprime!
Collateralized schlock! SPVs!
Distressed SIVs! Amalgamations! Bad banks!

You see,
Tuppence, patiently, cautiously trustingly invested
In the, to be specific,
Tim Geithner's
Federal Financial Stability
Public Private
Toxic Asset Tank!

Welcome to our joyful family of private investors!!!!!!


Goldman = dirty scum.


So correct me if I am wrong: Uncle Sam provides cheap non-recourse financing and matches private equity financing dollar for dollar. At maturity, the proceeds are applied to pay off Uncle Sam's loan first and then the residual or net loss is shared evenly with the equity holders.

The investors are paid a fee for managing the assets.

Is this the deal?

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