Mark Cuban's Bailout Solution

http://blogmaverick.com/2008/09/26/my-bailout-solution-im-in-for-at-least-50mm/

I liked this idea. Cuban’s suggestion to Paulson is to create an ETF to buy all the assets the bailout was planning to buy. And then have this trade like any other ETF, plus a bunch of other specifics.

If it’s such a good idea, why doesn’t he buy some of the debt and package it? Why aren’t others clammering to buy it up? This is what has me worried about the bailout. If it was such a great idea to buy up all this shit we wouldn’t need a bailout. It would all be bought up by now.

*retraction - It appears Cuban is willing to put his money where his mouth is and thinks that others will as well. Seems his recommendation is a market solution and not a gov’t solution.

[quote]dhickey wrote:
If it’s such a good idea, why doesn’t he buy some of the debt and package it? Why aren’t others clammering to buy it up? This is what has me worried about the bailout. If it was such a great idea to buy up all this shit we wouldn’t need a bailout. It would all be bought up by now.

*retraction - It appears Cuban is willing to put his money where his mouth is and thinks that others will as well. Seems his recommendation is a market solution and not a gov’t solution.[/quote]

This is very similar to the plans that were supported by many of the talking heads last week.

But in allowing the markets to solve the problem, the government could not stick their noses into the market, and be a player.

All that was really needed was an insurance fund set up to cover the bottom on these loans, and then they could have been market traded.

I hope every single motherfucker who voted for the bailout gets voted out of office.

Perhaps this might be the beginning of a new revolution against Washington.