"You'll be a Rich Taxpayer" Fallacy

So, if there are such good deals for the Treasury to get, why aren't others picking up these fantastic assets?

Did you notice that Warren Buffet didn't buy up the same stuff that the Treasury is going to? He got preferred shares in a premier, diversified company, Goldman, ... with really exciting warrants.

If Bill Gross sees so much opportunity, why hasn't he opened up a massive fund to start buying up sub-prime debt and alt-a loans, foreclosed or otherwise?

How come everyone walked past Lehman Brothers, when it was available for ... nothing... for zero?

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