Feeding at the FDIC Trough

Another part of the bailout turns into a feeding fest for a new group of insiders.

Starwood Capital Group LLC, Colony Capital LLC and TPG, whose leaders profited from the 1990s savings and loan crisis, are among firms buying assets from the Federal Deposit Insurance Corp. for as little as 22 cents cash on the dollar, according to data compiled by Bloomberg.

Some of the sales, according to Bloomberg, involve no interest financing from the FDIC.

Got that?

22 cents on the dollar with FDIC financing the deals at zero interest.

I think I could handle this risk. Sheila email me anytime.