2009-01-31alleyinsider.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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