Not One Dime!

$700 billion in taxpayer money would be wasted in a federal bailout – it would be the wrong people paying the bill, the wrong people making the decision, and the wrong reforms to fix the underlying causes.
The industry (not government) should set up a distressed debt fund to provide liquidity to mortgage-backed paper until maturity. A new Financial Services Authority should be established, replacing the SEC and other federal regulators. Other key reforms are needed and outlined here: to election financing, bankruptcy courts, mortgage lending, executive compensation, director certification, accounting practices, and risk-weighted capital.
Commentary on “financial bailout” by governance expert David Brown