exactly as ChrisCook suggests should be done
Bit confused here, Jerome, what do you think I'm saying should be done? "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Which brings me back to my point that the sharing arrangements are not the problem whrn the risk analysis is not done - and backed by credible players (ie banks and bankers doing their job). In the long run, we're all dead. John Maynard Keynes
That's not the issue: the issue is what is the optimal way out?
Debt got us into this position, so how can more debt get us out? ie it cannot be a debt-based solution.
So "Equity" (with no capital repayment) it must be.
Corporations and trusts are both sub-optimal in their complexity and allocation of risk and reward between stakeholders.
Applying Occam's Razor, the simplest form is the best, and there is no simpler mechanism than simply dividing property revenues into proportional shares or "nth's" using "open" corporate forms. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Debt got us into this position, so how can more debt get us out? ie it cannot be a debt-based solution. So "Equity" (with no capital repayment) it must be.
Any debt not repaid needs to be covered by capital from someone (including that of the lending bank, if necessary, if repayment never happens) In the long run, we're all dead. John Maynard Keynes
