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.

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