Re:The ‘Greatest Corporate Failure in American History’
by ethbro on Sunday December 20, 2015 @11:43AM
(#10767465)
If you summarize all that, that's pretty much exactly how you'd have expected (and wanted it) to work. The variety of firms in question all in competition for the both attractive offers and largest limitation of their own risk.
Where it seems to have gone off the rails, if it did, was in the speed and exclusivity with which this happened.
If you'd had a couple years to play this out, everyone would have come to a much more equitable solution.
However, because it needed to be done "now" (TM) due to the risks to the economy, the opportunity existed to steamroll deals through that would never have been agreed to by the market otherwise.
The question is whether those deals were a reasonable call in a bad situation, or actually intentionally manipulative.
Where it seems to have gone off the rails, if it did, was in the speed and exclusivity with which this happened.
If you'd had a couple years to play this out, everyone would have come to a much more equitable solution.
However, because it needed to be done "now" (TM) due to the risks to the economy, the opportunity existed to steamroll deals through that would never have been agreed to by the market otherwise.
The question is whether those deals were a reasonable call in a bad situation, or actually intentionally manipulative.