On Jan 30, 2009, at 7:57 PM, Jordan Hayes wrote:
> It's funny because it's the exact opposite of fractional banking.
>
> Which is the same reason why it's not a good idea.
It's funny [here] because I think that fractional banking is the problem.
But your arguments used total mortgage and total unsecured debt rather than debt of unemployed and underemployed, and their primary residence debt, within limits. I'm sure that would be a much smaller figure, probably well within the present bailout figure.
martin