Let’s Make A Deal or Sympathy for the Devil

images As I listen to Treasury Secretary Geitner and President Obama talk about the New Plan for the toxic assets I am reminded of Bob Barker of Let’s Make a Deal. It appears the New Plan involves a partnership with the government and the Private Sector. The Government would buy up $700 billion dollars worth of toxic assets while assumming the majority of the risk (93%) versus (7%) risk to the Private Sector. Sounds too good of a deal to pass up if I were an investor.

But wait I am reminded of another toon in the back of my head regarding this plan and it is..mick-jagger

Mick Jagger singing “Sympathy to the Devil” .Even the first lines in the song are kind of chilling, “Please allow me to introduce myself¬† I’m a man of Wealth and Taste.

It seems the Government is about to enter into a relationship with the “Devil” himself to solve the toxic asset problem with the banks. As I see it we need to stabilize the housing market and find investors for these toxic loans but does it have to be¬† with the Devils on Wallstreet ? It seems to me that it was Wallstreet that got us into this mess. Its time they started to be part of the solution but as I see it they are the only ones going to make a profit in this new plan.

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