Well boo-fucking-hoo

What pathos one has when reading the punchline of this FT article about how the Fed will now lend to Hedge Funds so that they can buy up credit-card securitizations:

The loans will be secured only against the securities and not the borrower. However, the Fed will lend slightly less than the value of the securities pledged as collateral. The Treasury has committed $20bn to cover potential losses.

Since the credit crisis erupted, hedge funds have complained that they cannot get the leverage they need to arbitrage away excessive spreads and meet high hurdle rates of return.

 

I'm literally aghast here.  You mean hedge funds weren't able to meet their high hurdle rates?  That will simply have to be fixed.  I mean, if these guys don't get free money guaranteed by the Fed, then nobody can get free guaranteed lunch, I mean money.  If the sharks don't eat, the whole ecosystem will collapse by god!  This whole bailout has become just a blatant farce with every pig in town feeding at the trough.  It's like we're literally imitating Japan on purpose.

It's so sad to watch America get looted.  I hope there's still enough great things about this country that it one day comes back.