P-PIMP is toast
One interesting neews item that came out yesterday is that the government's garbage asset purchase plan, oh excuse me...legacy asset plan, is being delayed (I read that to mean that it might not happen at all). I say good. While it's annoying for me to see common shareholders diluted into oblivion, it's better than seeing my tax dollars thrown into the trash (which has been happening a lot lately). As someone who owns bonds of the banks it's no skin off of my back. In fact I welcome dilution. Bring it on.
FDIC Said to Delay PPIP Test Sale of Distressed Loans