How to get rich on Wall Street? Keep the upside. Socialize the downside. Spread the hurt.
Such a Unilateral Socialism is creeping into our world. Where are the GOP screamers, as this is happening? They've said before they hate socialism, welfare, all that. Now they are the welfare cheats, not the critics.
Times change. People change with the times. And will change again. For now with handouts likely hands are out. Perhaps the cure for cancer is to securitize it, bundle all the individual cases into a pool, develop tranches, an early detection/aggressive treatment tranche, a metastasizing tranche, at the bottom rung a for-the-reaper tranche, and then have the government assume all the risk and hurt if the situation gums up when you try marketing the product. Nobody, individually would have to die of cancer, if we did the securitization prudently, unlike the CMO market where folks - ordinary people - do lose their homes even while the welfare largess is being dispensed big time.
Creeping Asymmetric Unilateral Socialism, is what it could be pejoratively called - and the system does work - wealth begets wealth, downside risk is always there, at the Wall Street level, until it ceases to be only risk but becomes loss, then it does not go away, it goes to the government, with taxpayers buying the loss.
That is not simply only today's answer. It was yesterday's too, the S-&-L answer, back when McCain and Keating were chums with one having an airplane and vacationing haven and the other having four colleagues in government.
So -- is it a welfare handout, or is it only "liquidity" the government is providing, sort of like Gatorade for an elite athlete experiencing cramping?
We are getting lots of reporting, little news.
_______UPDATE_______
This weekend's wig-wagging per the AP, is reported via Strib online, here.
Of interest is the extreme long recovery from the Japanese real estate bubble, 1990 and onward.
One picture is worth a thousand words, over many follow-up years.
The Wikipedia item links over to a paper on asset price stability considerations in "macroeconomic policy" whereas our situation, for years, has been a constant Wall Street, Tresuary Dept., and Gramm-McCain bleating for "deregulation" which suggests itself, by the sheer weight of language as we use it, to be the antithesis of "macroeconomic policy" or any other kind of "policy" - deregulation, the trending to absence of regulation is a trending to the absence of policy, and leaving things to market greed, which Sen. McCain now, strangely, denounces.