Financial crisis update

The TARP money seems to be for bank bondholders (not bank lending), banks are gaming the system like crazy and winning the public relations earnings announcement battle, and step-by-step the Obama team has ended up painted into a corner and now needs to publicly announce the results of the bank "stress tests."  No one wins when the government pronounces a bank "weak" (and thus destroys it) and no one wins when the government pronounces a bank "good" (and thus to some extent owns it).

That's the latest.

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