Doesn't Treasury Know that Paying Bubble Prices for Bad Assets Is, Like, So 2008?
You know, I'm beginning to lose track of how many different ways Versailles
is screwing us. The latest is another round of the government conspiring with Wall Street to try to hide the size of the big shitpile by paying more for assets than they are worth.
From Andy Lees at UBS (hat tip reader Scott, boldface his):



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