Tuesday, January 06, 2009
Not Really That Funny
Because it's essentially true. Though the bailout is hardly voluntary.
For example, when the government took over Fannie Mae, I believe it took over the all the company's liabilities. So the Feds will have to pay for the legal defense of former Fannie execs accused of....well, defrauding the government (and investors). My memory may be confusing Fannie with AIG here but that's just a detail.