Friday, January 25, 2008

Another quick thought

Does anyone else find it a bit weird that banks are being asked to pony up money to shore up the capital position of monoline insurers? The same monoline insurers who are insuring dubious financial instruments currently held on (or near) the balance sheets of banks?

Seems like a circular firing squad to me (and what does it say about the true value of the bank assets?).

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