JPM And Bank Of America Pay Themselves Back In Yet Another REIT Offering

``But don't bother Cohen and Steers with the fundamentals - after all not only are REITs the primary recipient of taxpayer subsidies via the PPIP pumpage of CMBS, now Arnie is making sure taxpayers double dip, and bail out his state as well. As such, for taxpayers going long a REIT debacle such as KRC makes all the sense: at the end of the day the choice is either paying yourself in advance on April 15 by buying the worst garbage Wall Street has to offer, or not paying taxes at all.''