Regarding Warren Buffett's latest proposal for the troubled bond insurance industry:
"This is probably the most palatable solution that the private market can come up with for the problems with the bond insurers," says T.J. Marta, fixed income strategist with RBC Capital Markets. "No one can expect a private party to take on these CDO exposures. That simply would not be rational. Also, the people who got involved in these CDOs deserve whatever problems are in store for them." http://www.thestreet.com/s/buffett-plan-beats-a-bailout/newsanalysis/financial-services/10403333.html?puc=_googlen?cm_ven=GOOGLEN&cm_cat=FREE&cm_ite=NA
Pertaining to the hard-core holdouts, I contend that it is one thing to be self-destructive, but to be so oblivious to your responsibilities in providing security to your charges a firm is guilty of committing a financial capital crime and at the expense of innocent municipalities, school districts, and the likes.
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