Believe in Liberty. Think for youself. But listen to me.
- Terry Tate Buffett, Investment Linebacker
-Tu Ne Cede Malis
Tuesday, September 09, 2008
Treasie Mae's GSE Bailout Threatens the Solvency of Dozens of Banks
This morning's Washington Post has a front page story on the difficulties several small banks are facing as a result of Treasie Mae's decision to crush the preferreds as part of its GSE intervention. A CEO of a Virginia based bank that is quote, "on the bubble" put it this way. "I'm angry." Indeed.