Forcing banks to mark to market, and applying serious jail time for those who cooked the books, sounds like good intervention to me.
Buying up junk paper in an attempt to reinflate the housing bubble, treating the debt binge by supplying more debt, is a cure worse than the disease.
Bailouts Will Push US into Depression: Manager (CNBC)
The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Tyche, told CNBC on Thursday.
“We expect a depression in the United States. We expect a depression, very possibly, also in Europe,” Hennecke said on “Worldwide Exchange.”
rest at link
http://www.cnbc.com/id/26656750/site/14081545/
Buying up junk paper in an attempt to reinflate the housing bubble, treating the debt binge by supplying more debt, is a cure worse than the disease
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Excellent!