TARP to buy bank preferred

Coverage in the FT this morning. If 700B of assets is peanuts compared to the 5T that are being vomited in the markets by various shadow funds, 300B in bank capital will translate into 3T liquidity.

Now we are talking.

Hank and Ben are starting to make a whole lot of sense. I hope the govt gets a killer deal as it saves our miserable peed on collective pants. Think Buffet or better. Make the trade of the century.

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