If you summarize all that, that&#x27;s pretty much exactly how you&#x27;d have expected (and wanted it) to work. The variety of firms in question all in competition for the both attractive offers and largest limitation of their own risk.<p>Where it seems to have gone off the rails, if it did, was in the speed and exclusivity with which this happened.<p>If you&#x27;d had a couple years to play this out, everyone would have come to a much more equitable solution.<p>However, because it needed to be done &quot;now&quot; (TM) due to the risks to the economy, the opportunity existed to steamroll deals through that would never have been agreed to by the market otherwise.<p>The question is whether those deals were a reasonable call in a bad situation, or actually intentionally manipulative.