A number of news outlets are focusing on the TALF, the Fed program to jump start asset-backed securites markets. Only 19 firms have applied to take part in the program, apparently because of the difficulty of the application process and, in a new twist, fears that the government will change the rules after the game begins.
Why those fears? The AIG debacle and the Congress going wild trying to claw them back…These jokers need to begin avoiding the cameras and governing rather than jumping on every populist bandwagon that speeds by…
