More on the bailout...

Perpetual preferred? At least it's alliterative.

Credit Slips says the deal is structured to fulfill the banks' capital requirements. "What strange times we live in when Treasury and the Fed have to engineer a deal to circumvent their own regulations."

CFO.com notes that the SEC has circumvented their own rules regarding Perpetual Preferred. You don't have to mark to value if the value goes down.

You can fool some of the people all of the time, all of the people some of the time, but not all of the people all of the time (I think this quote is Abraham Lincoln's). You wonder when they will stop thinking they can fool people.

Brad Evans