More on toxic debts, bad banks

Talkingpointsmemo.com has a good post on the idea of an aggregator bank taking up the toxic debt.

Here's a snippet of the post, with a good analogy on what the banks are trying to pull over our heads.

It's like a scene out of some bizarro, Wall Streetified Antique Road Show. The bankers come in with their old china and cabinets from the attic that they're sure are worth $20,000. Sadly, the appraiser informs them they're only worth about $850. Only of course they're not from the attic. They bought them only last year convinced $20,000 was a steal back at the height of the antique crap craze. And now they're condemned to roam the byways of America looking for an appraiser or antique buyer who will finally recognize the true value of their crap and pay them $20,000 to help them get their money back. Unless of course we agree to pay them $20,000 for it now and let them get back to their lives and stop all the craziness.

If the government wants to waste money, send it to those who really know how to waste it - American consumers.