'Sham' Bailouts Help Speculators

Naked Capitalism has a couple of nice posts about comments made by Michael Patterson, head of a private equity firm, to the Telegraph that reflect very poorly on TARP.  Here is the story from the Telegraph (which has since been yanked from their site, apparently because Patterson objected to it; it is preserved at zerohedge.blogspot.com):

US 'sham' bank bail-outs enrich speculators, says buy-out chief Mark Patterson

Here's what Yves Smith at Naked Capitalism had to say about the piece:

And this more recent post (from a larger project she has of showing how the business press airbrushes negative economic news):

—cs