A fine article about the vultures in private equity circling dying banks to pluck at their corpses. Allegedly, the fed is thus far blocking private corporate takeovers of controlling stakes in the banks, but the vultures have hired other raptors to make their case and change some rules. They hope to prevail on Treas. Sec. Geithner to step in for them. He was a fellow traveler at Goldman Sachs with the self-described "grave dancer" featured in this article:
http://www.nytimes.com/2009/05/06/business/06equity.html?hp
Of course, the outrage hidden in the article is the stated possibility that if these deals are allowed to go through, the government (i.e. the people) eats any losses but the private investors take any profits of up to 35%. If Geithner were not so insanely committed to denying us the nationalized system we need, we wouldn't have this situation. Choosing him and the rest of the Goldman Sachs-connected mob may go down as the biggest mistake Obama made. That or getting mired in Afghanistan...or not prosecuting his war criminal predecessors.
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