[quote=TheBreeze]
Well, this dude either sees value in the turds or value in being backstopped by taxpayers coupled with the ability to operate with loosened regulations. My bet would be on the latter. Plus, I don’t trust any “federally-financed” deals that occur in the waning weeks of the Bush administration. This just looks like more of the same to me – the gains will go to private parties and the taxpayers will be stuck with the losses. [/quote]
Fair enough. I share your skepticism. My point was that a few purportedly smart folks are out there looking seriously at deals, which hasn’t been the case recently. That’s not debatable. As much fun as it is to speculate, why don’t we wait and see what the deal actually looks like after it closes, then we’ll know what kind of assumptions are imputed into it by the investors. Then we can comment more intelligently on what kind of risks they’re bearing and what their thinking is.
