April 15, 2009

First, fire the managers at the banks

Seriously, this is pretty much spot on. Insofar as removing morons like Ken Lewis. As for bank liquidations, I'm not sure it's needed. We've moved beyond some of the liquidity problems at the banks... what we need now is to jump start securitization. The only way we can do that is to see some of this paper start to move. I prefer ripping into them since it's the least expensive option. But I don't think Larry Summers is going to opt for that since he put us on the hook for more than a trillion.

It would also help if we could start driving some wage and employment growth. I don't know why but people have an easier time paying debts when they're actually, you know, making money.

Posted by mcblogger at April 15, 2009 01:20 PM

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