Take out the controversy. Have the Federal Reserve buy the bad debt

[mmonk]

and shore up capital for the banks. Then have Congress put in the necessary regulatory requirements and reserve requirements to reduce risk.

[snot]

1. does anyone know the amount of the bad debt? (if they do, they're not telling . . .

and that's a big part of the problem.

[mmonk]

2. No, but regulators could determine enough of it to remove

and also who will make it and won't.

[Greyhound]

3. The figure being bandied about a couple of days ago was $200B

in mortgages which, they said, was the reason for this "crisis". The other half trillion? Well let's just call that a rainy day fund for the new economy czar.

[mmonk]

4. And it would make so much more sense

to have the Federal Reserve remove it than try to pass what amounts to a $700 billion tax increase during an election year.

[Greyhound]

5. That's just one of the many irregularities in this stampede.

This thing stinks inside-out, top to bottom, beginning to end, and I'm just stunned that so many formerly sane people here are pushing for this fraud to get through.

The Norwegian Blue Economy package.