WTF Is a Covered Bond?

Is it like a covered wagon? When will they stop giving microphones to bureaucrats trying to save the day, every freaking day? I swear Paulson, Bernanke and Cox are short in their own account. Maybe their not the plunge protection team, but the “lets really get this capitulation thing over with team.” I’m tying up some loose ends. I’ll be back in 30.

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