Now Joel calls my attention to a couple of qualifiers: One, they weren't Treasury Bills. And two, the carriers may not be Japanese (the clue was that they looked like Gene Wilder and Richard Pryor).
I suppose an alert law student would have seen through this one from the get-go: the US doesn't deal in paper securities like this, any more than the Spanish government deals in gold doubloons. Oh, and did I mention that the "culprits," if you can call them that, now seem to have been released--to the tender mercies, perhaps, of the prospective buyers on whom they intended to inflict all this junk.
I smell a Donna Leon novel in the works here. And my, it is much more fun than trying to make sense out of the Obama bank-regulatory scheme.
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