He was talking about the “bad bank” concept being bandied about in Washington at the time.
Until the extent of “bad bank” assets are counted and valued, taxpayers will stay in the dark and on the hook.
It is a less-expensive and far more workable version of a bad bank, which would buy up the toxic material only.
According to one person with knowledge of the matter, the bad bank will likely be one aspect of a “kitchen-sink approach.”
With so much "bad bank paper" in circulation, Speridionides is not likely to set a high price on his own scrip.'