Taxpayers, have a look at your new portfolio!

[Peter Suderman] A colleague notices that the New York Fed has released some details on the Bear Stearns bailout, which is probably a little bit important considering the public could end up footing the bill if things go south. The whole situation is a bigger mess than Ishtar and Waterworld combined (a movie which, okay, I'd actually like to see), but I tend to think skepticism, of whatever sort, is a far more appropriate a reaction than the "Bernanke is my kind of guy" Fed-love we're seeing in some quarters.

This article available online at:

http://www.theatlantic.com/business/archive/2008/04/taxpayers-have-a-look-at-your-new-portfolio/3176/