Talk About Regulatory Capture

Remember those bank warrants we got for TARP money?

Well Timothy Geithner and His Evil Minions^™ want the banks themselves to set the price, at least initially:

The Treasury Department said the banks will make the first offer for the warrants. Treasury will then decide to sell at that price or make a counteroffer. If the government and a bank cannot agree on a fair price for the warrants, the two sides will have the right to use private appraisers.

If you want a fair price, put them out for public bid.

This is just another backdoor payout to the investment banks.

First, we overpay for the warrants, and now, we sell them back at less than their value.

The hole damn system is corrupt, and the bank bailout needs to be pursued as a criminal investigation, not as a crisis.