Additional reading for curious capitalists

Justin, thank you for posting David von Drehle's story. It was wonderfully written and amazingly insightful. Thanks for sharing!

As for Kessler's take, I'm not an economist so I can't argue his financial points, but while it may seem like the taxpayers will get their money back, doesn't it all come back to how the honest the Fed will be dispurses whatever profit it makes back into the hands of taxpayers.

Who's to say the next president won't to take that profit and sink it into another foreign policy disaster?

Have you read Roubini's plan yet? I think the country would be well-served to just draft it into legislation and get busy putting it into action. I believe it is the only way back to prosperity.

Roubini: Any solution to deal with economic overindebtedness must entail a reduction in the face value of the debt outstanding especially for households on the ropes and who have a strong incentive to just walk away which would be the worst outcome for borrowers, lenders, and investors--> Efficient HOME (Home Owners' Mortgage Enterprise) 10 step plan includes a combination of purchasing illiquid assets at a discount with restructuring/loan modification option in exchange for equity warrants.

that's what i've been telling everyone in town: walk away from your upside down mortgage immediately, and take everything and anything you can with you.

@Bryan from Houston: I think we are headed for something like Roubini's plan, just in bits and pieces.