Smearing Risk Around Like Peanut Butter
My kids have a trick that I am sure is not unique to our household. Faced with some type of food they do not like, they have become quite creative and artistic in spreading the mass of food around their plate, in a (generally) vain attempt to fool mom and dad that some of the food has disappeared.
After reading the scathing WSJ article this morning on the BofA / Merril Lynch deal, one has to wonder whether the feds were attempting the same trick with risk.
Like Welch, I welcome the WSJ as late arrivers to the bailout-skeptics party.
