Monday, March 30, 2009

PPIP In A Nutshell

A crystal clear explanation of the PPIP (public-private investment program). The plan opens the door to further manipulations of the system and "moral hazard". The success of the plan hinges on: whether banks' problem is liquidity or insolvency. But the bottom line is taxpayer will end up paying for this mess. And no one will take responsibility?

(note: a small mistake in the video is FDIC not the Fed will lend the money).