jacosa

How to Spend $700B and Actually Solve the Problem

I'd like to float "A Modest Proposal." For $700,000,000,000 (it DOES look pretty big with all those zeroes actually written) the government could go a long way toward paying off those shaky mortgages underlying this mess. That would take the pressure off the banks. Think about it.

The social consequences would be horrendous, and it's pretty obvious that there would be an artificial boom that would make 1999 look tiny. So maybe a few less hundreds of billions might be a better number: saving money on a bailout isn't bad.