My third post for the day

Yes indeed, its just one of those days, but I had to share this abstract from http://norris.blogs.nytimes.com/2008/10/02/a-simple-fix/ about a simple fix to the credit crunch. Very entertaining and a for a moment, I thought it could actually work : )

“Here is a simple idea that might help address part of this this very un-simple mess. Take $100B and buy 500,000 empty homes for an average of $200,000, and destroy the homes. A shortage of available housing will push the market value of existing homes up, building trades will boom, mortgages will start to happen again (with new terms that NEVER offer less than 15% down) and then we can go to work on how to split up A.I.G. and the three remaining banks in the country…”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s