Yes, and Uncle Sam was forcing Wachovia to be purchased for under 3 bil instead of 15 billion. And, the guy picked to fix the bailout: 35 yrs old and one of those funny names. I don’t trust this guy already. He worked on a NASA telescope and he’s now in charge of orchestrating the bailout.
“He worked on a NASA telescope”
When I worked on Wall Street literally vs. figuratively, it was kind of amazing the number of physicists and engineers that were hired. Most of the problems we have now with toxic instruments were described by some pundit as the Princetoning of Wall Street. and these guys are not finance majors.