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  • Leigh

Leigh

9 months ago

in Hopes for ‘Clean’ Bailout Bill Gone on The Washington Independent
1. "Treasury can just create a $700-billion, U.S. government-owned “sovereign wealth fund” to invest in troubled banks at market prices"
Q: How would this act differently from $700 billion of capital (and more) that's already out there?

2. "A sophisticated board of ex-bankers and accountants could oversee the pricing of individual deals."
Q: How would these be different from the "Wall Street’s suits [who] smell a goldmine and are clamoring for position to get the hundreds of millions in fees at stake." If they're willing to work for a government salary instead of a Wall St bonus, why? Will they actually be smart enough to outsmart the Wall St. guys?

3. Q: What does Mr. Morris think of William Isaac's proposal to suspend mark-to-market accounting, based on the argument that the current "market price" is not realistic (what with being in panicked freefall)?
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