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|User Info||The Economy comes Unglued; entered at 2012-06-08 08:01:32|
Registered: 2009-10-09 The Distant, Glorious, Past
KD has mentioned a gazillion times how to fix this. Over 6 months you phase out all CDS and similar and force them onto an open exchange that clears in cash with 1 dollar of capital, every night. |
Then the POTUS exec orders them out of existence.
The big 20 banks are allowed to fail and in their stead we create a dozen or so new, federally chartered banks using $1T in seed capital to get $11T in credit. This prevents a total credit seizure on the money markets.
Everyone C level and up goes to jail, everything is clawed back from 2005-present, and the new banks are run by regional bank managers.
Glass-Steagall comes back, all the financial innovation is trashed, and such.
I can dream, can't I?...