To: sixty2nds who wrote (11486 ) 9/26/2008 12:24:33 PM From: ahhaha Read Replies (1) | Respond to No. won't work. How can someone offer insurance on a promise to pay when the credit swap market, within its guaranty of credit aspect, itself is in dire straits? How large would such an offerer have to be? Bigger than all financial institutions in the world since no one trusts any of them individually nor all of them as a group if only because they're all at war with each other, under the war of distrust. Who's to judge, man, when the judge himself is dragged before the bar?Offer temporary tax relief to free up capital for companies to lend one another. Temporarily suspend dividend payments by financial institutions. Require participating firms to disclose to the Treasury Department the value of mortgage assets on their books, private bids on them in the past year and their last audit reports. Forbid government-sponsored mortgage giants Fannie Mae and Freddie Mac from issuing securities on unsound mortgages. Require the Securities and Exchange Commission to investigate the performance of credit-rating agencies.
