I wondered that as well, so thanks for posting this link.
This claim seems dubious. This CCPA report is saying the majority of the "bail out" was from the CMHC (our FNMA) buying mortgages (which were already insured by them) from banks. Thus, assets were exchanged for cash at a fair market value. Is that a bail out?
A fishy anti-business report quoted by a supposed wall-street trader. Michael Lewis' book has brought some strange groups on the same side of the issue I guess.
This claim seems dubious. This CCPA report is saying the majority of the "bail out" was from the CMHC (our FNMA) buying mortgages (which were already insured by them) from banks. Thus, assets were exchanged for cash at a fair market value. Is that a bail out?
A fishy anti-business report quoted by a supposed wall-street trader. Michael Lewis' book has brought some strange groups on the same side of the issue I guess.