If anybody thought this bailout was a good idea, apparently they didn’t know what was coming next. The bill essentially created a new bureaucratic nightmare, and our leaders were ill-equipped to deal with it. Well, they found a solution.
They have decided to outsource management of this mess. The usual suspects are involved: Goldman Sachs, BlackRock, the Pacific Investment Management Company and Legg Mason, among others-and I include those hedge funds because-even a guy off the street like me knew what kinds of loans these institutions were handing out, so I find it impossible that these Wall Street giants didn’t have a clue. They share some culpability.
It would seem like it was the least they could do, to help clean up this mess, but wait-these clowns will be charging for their services! Maybe I’m wrong, but I bet they don’t work cheap. There is at least one entity who has offered to help for free: Pimco They all should do their share if they’re going to do anything at all.