{"id":364,"date":"2008-09-25T10:16:20","date_gmt":"2008-09-25T10:16:20","guid":{"rendered":"http:\/\/iwasmisinformed.com\/?p=364"},"modified":"2008-09-25T10:16:20","modified_gmt":"2008-09-25T10:16:20","slug":"you_know_even_a_blind_hog_find","status":"publish","type":"post","link":"https:\/\/iwasmisinformed.com\/?p=364","title":{"rendered":"You know, even a blind hog finds a nut&#8230;"},"content":{"rendered":"<p>\nI&#8217;ve frequently thought that the House of Representatives is the world&#8217;s biggest open-air special-needs class, and the GOP contingent a bunch of snake-handling mouth-breathers, but <a href=\"http:\/\/www.sfgate.com\/cgi-bin\/article.cgi?f=\/n\/a\/2008\/09\/24\/national\/w191031D10.DTL&amp;tsp=1\">if this is true<\/a>, it&#8217;s an <em>inspired<\/em> move.  Sure, the government is on the hook if things go pear-shaped, but insuring bad debt for private companies who agree to take it on &#8211; and charging them for said insurance &#8211; is a hell of a lot less of a budget-buster than buying up all the bad debt outright and hoping against hope that it&#8217;s worth something someday. I mean, seriously.  Put the profit potential of mortgage bonds in one hand and crap in the other and see which fills up first.\n<\/p>\n<p>\nIf this &#8220;toxic debt&#8221; is really something that will pay out for us in the end, then the private sector should be just as happy to make a profit on it, right?  Especially with the government as the reinsurer of last resort?  The best part is, it&#8217;s a simple plan along the lines of FDIC insurance and it leaves the heavy lifting on the industry that got its tit in a wringer to begin with.  I think the watchword for anyone working on this deal should be &#8220;elegant in its simplicity.&#8221;  These Rube Goldberg three-rail bank shot schemes are where shit comes unravelled.\n<\/p>\n<p>\nAnd again, if I&#8217;m rank-and-file at Lehman, I&#8217;m climbing a bell tower with a high-powered rifle right about now&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;ve frequently thought that the House of Representatives is the world&#8217;s biggest open-air special-needs class, and the GOP contingent a bunch of snake-handling mouth-breathers, but if this is true, it&#8217;s an inspired move. Sure, the government is on the hook if things go pear-shaped, but insuring bad debt for private companies who agree to take &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/iwasmisinformed.com\/?p=364\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;You know, even a blind hog finds a nut&#8230;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/iwasmisinformed.com\/index.php?rest_route=\/wp\/v2\/posts\/364"}],"collection":[{"href":"https:\/\/iwasmisinformed.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iwasmisinformed.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iwasmisinformed.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/iwasmisinformed.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=364"}],"version-history":[{"count":0,"href":"https:\/\/iwasmisinformed.com\/index.php?rest_route=\/wp\/v2\/posts\/364\/revisions"}],"wp:attachment":[{"href":"https:\/\/iwasmisinformed.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iwasmisinformed.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iwasmisinformed.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}