Wednesday, October 1, 2008

The best bail-out alternative I've seen anywhere...

... which is unfortunately too long and technical even to abstract, so I'll just send you over to A Secondhand Conjecture to read it yourself.

I don't necessarily agree with all of it, but it makes the point that there are many thoughtful ways to approach this crisis, and that currently we're doing absolutely nothing except throwing more bad paper money against it.

The US Senate, of course, has just tossed $800 billion into the ring.

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