Taking the "pro" side of the bailout argument, Andy Kessler believes that Henry Paulson may be pulling off "the mother of all trades." Andy calculates this move could net over a trillion dollars for the US Treasury.
I've mentioned before that Andy's about as smart as they come, and that I'm a big fan of his unique way of analyzing the world, beyond financial markets. Seeing him take the other side of the ledger on this move does give me pause - we'll need to make sure we are diligent in constantly rechecking our assumptions here.
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