Geithner: bought and paid for by the banks
In the news
“In general, our objective will be to sell these warrants as quickly as we can,” Geithner told the Senate Banking Committee today. “What I’m reluctant to do is have the government be in a position where we hold these investments for a long period of time, longer than is desirable, in the hopes that we’re going to maximize value.”
Way to go Tim. You always get the best deal when you lay your cards face up on the table and tell what you plan to do and when you will do it.
Also, "as quickly as we can" ≠ "longer than desirable".
"Risk, why should we take stinkin' risk? Let's dump them on someone else."
I wonder how many in Wall Street hold onto their securities long enough to qualify for long-term capital gain/loss treatment?