And the absolutely idiotic response in defense of Blackstone: http://finance.fortu...ne-vs-daily-show/
I adore this part of the rationialization:
In other words, Blackstone would have made money off the CDS no matter what. And, by providing a lifeline, the firm could charitably be viewed as the fireman rather than as the arsonist.
Jesus H. Christ. That is EXACTLY the fricking problem. The banksters make money "no matter what." This is exactly the problem that the <cough, cough, wheez> progressive Obama Administration has completely failed to address. How fricking magnanimous of them to flick a few crumbs when they didn't have to. These bastards actually believe they are "the good guys" in all of this. To quote Dan Jenkins, "In...fucking...credible."
Edit: Corrected quote of character Bev in Dead Solid Perfect.