plan to end all this political bickering and adding amendments . Have all the banks list their toxic loans, foreclosures and bad debts on the bond market and then let the government , banks , hedge funds, investment equity firms bid on them . The free market will give them a price . It seems the big sticking point is nobody knows what the value is , can not assign a value , or more then likely do not want to assign a value . Bundle them up- every bank can float as many bonds as they want under any categories they want. The bonds prospectus will have very HIGHLY detailed descriptions of what they contain . If the bonds are lousy with lousy collateral they will command junk prices like $.02 on the dollar ! If the bonds are better grade they will command a better price ! No one is forced to buy or sell them. You can buy the bonds according to the degree of risk you want to take. Junk bonds will bring junk prices and primo bonds will bring primo prices !!!! So easy and simple to let the market and free market determine their worth . No cost to the government , the taxpayer, or adding to our national debt !!!!
Last edited by glovesetc; October 1st, 2008 at 02:43 PM.
Reason: spelling
Original loans only. All other derivitives and/or options are null and void, by act of Congress.
__________________ To err is human, to air is Jordan, to arrr is pirate.
Theres plenty of face cards to make 20, but it takes an Ace to make Blackjack.
Nickel & Dime them into Bankruptcy.
Last edited by N&B; October 1st, 2008 at 09:50 PM.
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a simplified bailout
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