Posted by: Alan Wilensky | Oct 9, 2008 12:06:14 PMI wholeheartedly agree with this proposal! Take the funny money out of the system with a snap and let's keep going on with our real business. Not possible? Well, everything is possible.
Declare all CDS instruments void and non-negotiable. The Fed and SEC can do this with a little know financial administrative called, "Tough Titty."
The Tough Titty invocation was jsut recently used to spew out the 700 (nee 880) billion dollar bailout, where the Treasury and Fed basically said, "Tough Titty", to the taxpayers.
So, for the CDS unwind, I advocate that the Tough Titty rule be invoked.
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Thursday, October 09, 2008
Outlaw CDSs. Now!
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