and not just because I'm angry at the banksters. Ian Welsh suggest a free market way to rid us of these parasitic creeps:
Breaking the Banks (and getting lending going again):
[snip]
The Fed still holds over $2 trillion in toxic waste from the banks. The banks still hold trillions of dollars of toxic waste. If sold on the open market this stuff would sell for, oh, about 5 cents on the dollar. If forced to mark the assets they are keeping on their books at inflated prices to their actual market value, I doubt there is a single major bank in the country which wouldn’t go bankrupt. Including Goldman Sachs.
So here’s what you do. As the Federal Reserve you sell $100 billion of the toxic waste on the open market. Set an actual price for it. Then you make the banks mark their assets to market value. They go bankrupt. You nationalize them.
Posts
1 comment:
http://market-ticker.org/akcs-www?singlepost=2151169
You can correct me if I'm wrong but I don't believe there is necessarily too much difference in the Welsh-Denninger line on the hidden or fraudulent condition-insolvency? of the banks and on some aspects at least of the remedy
Post a Comment