On Financial Meltdown, Part 4

[seanorange]

Summary of the current Senate bailout billThe gist: the government wants to create the biggest hedge fund in the world

Comments

[aremisasling]

The one angle that is not suggested often enough is that we've done this before during the Great Depression. We bought up a lot of failed mortgages back then and when many of them came through in the end, we actually profited off of them. Risky? You bet yer ass it is. It's really risky. But the payoff could actually be pretty good for homeowners in the short run and our government in the long run. It could be particularly successful if we do what the companies won't and renegotiate the terms of the mortgages once we own them