If Jeff Snyder’s understanding of the mechanics of the bailout is correct, then the goal of the whole buying of worthless debt from banks is to put them in a position to lend even more. Again. And again. And again. It’s the kind of repackaging and selling of debt that created this mess in the first place. Only now, there will be absolutely no incentive for them to make anything even remotely resembling good loans, since they know with absolute certainty that the government WILL come to the help in the event of trouble. One reader of a previous blog … Continue reading Much, Much More of the Same