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The Pots Calling The Kettles Black

You have to have no sense of irony to read the paper these days.

Today’s FT reports that the US is moving to synthetic junk bonds using CDS:

It’s funny, the last crisis involved chasing for yield in a low-yield environment which led to a collapse which is being treated by low rates again which is leading to the rush to synthetic high yield bonds which will ?


Then in the Times,

Bank of America Rejects Idea of Reducing Home Loans

because “It?s not that we don?t want to help troubled borrowers,? Mr. Laughlin said. ?It?s a moral hazard issue.?

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