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There is no need for a bailout or the Fed to “do anything” or any of the other things people are yelling for. All that needs to happen is the political will to allow one of the large banks to do what they would do as rational economic actors if they weren’t politically toxic.
I do not understand the politics in this country well but since there will be no government funds at risk and no need for a backstop and shareholders are wiped out, I’m curious what the rationale for #OccupySandHillRd would be if JPM or one of the other money centers takes over.
The charitable read of what everyone is hearing is that the Gov knows there are multiple of the largest banks who will do it, and are shopping around this weekend to find anything more palatable, and if they don’t, they’ll acquiesce. The less charitable read is …
