On Sep 17, 2008, at 8:28 AM, Marvin Gandall wrote:
> Capitalism is compatible only with the temporary public ownership and
> restructuring of distressed industries. In this case, it's possible,
> even
> likely, the government will create a larger-scale equivalent of the
> Resolution Trust Corp which disposed of the mortgage loans and other
> assets
> of insolvent S&L's in the late 80s. It could happen not long after a
> new
> administration takes office.
Yup - that seems inevitable. Though they may not be able to wait two more months.
Doug