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Yes, as you know, my argument for coping with the financial sector is bring the parts Main Street needs into receivership, with claim or credit to the original financial institution based on whether they had enough sound assets to bring the books of that part into a sound financial position, and then let the original financial institution go through ordinary bankruptcy.

OTOH, that plan is less likely to generate the contributions from the Finance industry that Obama's Hedge Fund wing of the Democratic party relies upon.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Fri Aug 21st, 2009 at 05:51:02 PM EST
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