" Neither seems to have any experience whatsoever in finance, beyond Susan's penchant for dabbling in thoroughbred racehorses. But with an upfront investment of $15 million, they quickly received $220 million in cash from the Fed, most of which they used to purchase student loans and commercial mortgages. The loans were set up so that Christy and Susan would keep 100 percent of any gains on the deals, while the Fed and the Treasury (read: the taxpayer) would eat 90 percent of the losses. Given out as part of a bailout program ostensibly designed to help ordinary people by kick-starting consumer lending, the deals were a classic heads-I-win, tails-you-lose investment."
This is too surreal, I'm not sure if I believe it or not. Is the US really that screwed up?
AFAIK, Rolling Stone has a reputation of being fairly accurate, if not unbiased. So yes, probably.
I am not a US citizen, but if that's true, it is sick.