Relevant:
- Taxpayers Forced to Cover Risk of Banks' Folly
- Bond Traders Shunning Freddie Costs Taxpayers: Mortgages
- Why Should Taxpayers Give Big Banks $83 Billion a Year?
- US Taxpayers Just Paid $780 Million To Fund The Latest Greece Bailout Tranche
- Sweden Prime Minister Proving Tough Love of Banks a World Model
2009-01-31 — alleyinsider.com
Write down the value of ALL the banks' assets to nuclear-winter levels, so private-market investors AND taxpayers can be assured that there will be no further writedowns.
Recapitalize the banks by converting debt to equity, thus merely forcing those who made the bad decisions to pay for them (instead of hosing 200 million taxpayers who didn't). If necessary, taxpayers can top up the tank.
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