[lbo-talk] price discovery

[Shane Taylor]

LBO 118 noted Paulson's abandonment of efforts at "price discovery." Yves Smith suggests:

    Repeat after me: you need recapitalization AND price discovery. The near pathological avoidance of the latter by the officialdom would seem to support widespread suspicions that making [sic] asset to market, or even a realistic notion of longer-term value, would confirm that the industry is insolvent.

<http://www.nakedcapitalism.com/2008/12/banking-industry-sinking-faster-than.html>