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Paulson and Bernanke: A Conspiracy of Dunces

The bottom up plan is the only one that makes sense. Some pencil to the paper could tell you. It would also reduce the voters' revolt who are mad as hell. The elected parties would fell safer and vote for it. The Banks could impliment the process but the Fed would provide the finances and the strict control. The toxic paper could simply be written down and the holders of these papers feel the pain.

CreditSights: Guardedly Optimistic About U.S. Loan Market

The housing industries is suffering from negative press and bank's high interest rates. Further, the banks are playing games with selling a dwelling short but not honoring the asking price; they postpone closing and letting the contract run out and the potential buyer, who had placed a bit in at asking price is forced to go look other places. I have seen it happening.