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The Bad Private Equity Fund

Abnormal Returns found this 11/16/2008 on baselinescenario.com

What seems like years ago, Simon and I wrote an op-ed in which we compared the initial proposal that became TARP to a bad hedge fund - a fund whose purpose was to overpay for illiquid securities and thereby shore up banks. Now that the original plan is dead , I think we can say that TARP has ...