September 25, 2008
I got those bad asset blues

I would have thought that something "bad" was, by definition, not an asset. Clearly, I am naive in the ways of the financial markets. Fortunately, I have sites like this to help me figure it all out.

With our economy in crisis, the US Government is scrambling to rescue our banks by purchasing their "distressed assets", i.e., assets that no one else wants to buy from them. We figured that instead of protesting this plan, we'd give regular Americans the same opportunity to sell their bad assets to the government. We need your help and you need the Government's help!

Use the form below to submit bad assets you'd like the government to take off your hands. And remember, when estimating the value of your 1997 limited edition Hanson single CD "MMMbop", it's not what you can sell these items for that matters, it's what you think they are worth. The fact that you think they are worth more than anyone will buy them for is what makes them bad assets.

When you explain it that way, it makes much more sense. And I can assure you, my bad assets will cost a lot less than Wall Street's. Link via Yglesias.

Posted by Charles Kuffner on September 25, 2008 to National news
Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)