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"I have to disagree with all the pundits -- and many of the more bullish cabal today -- who view the RTC solution as a cure-all.

The issue is more complex today as compared to when the RTC emerged in the early 1990s.

At that time, the government inherited its vast real estate portfolio of commercial and residential properties through the acquisition of bankrupt thrifts.

Today the issue is far more complicated, as the government apparently intends to buy the bonds that are backed by the delinquent and foreclosed properties."


cont'd


http://www.thestreet.com/story/10438255/1/kass-resolution-tr...
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