Nirm
2008-09-29 17:39:42
I am no financial expert, instead of the bailout, could the Federal government create a “limited life” government owned financial corporation with the initial capitalization of the 700 billion that will then buy out all the “toxic” mortgages from the troubled banks out there, with the explicit stipulation written into law that the corporation needs to be put up for sale, dissolved or otherwise privatized after a stipulated period of say 10 years or when the market improves whichever is shorter, with all the proceeds of the corporations’ liquidation going towards Federal debt repayment or to shore up Social Security.
