Former Sec Of Treasury O'Neill Has A Good Plan ( I think)

[marias23]

O'Neill would like the government to calculate the present value of the mortgage-backed investments and then insure, rather than own, those assets.

[GetTheRightVote]

1. O'Neill was outed by Bush due to not being loyal to him, he is a good guy

His is probably the best ideal in the present sense.

:grr:

[kirby]

2. That is the Repub plan I believe...

The whole problem is no one can calculate a present value because so many financial shenanigans have taken place.

And AIG was an 'insurer' of mortgage backed securities. They failed and needed an $85 Billion takeover by the government.

[TwilightGardener]

3. That's the GOP house plan. Sounds like creative accounting.

[TwilightGardener]

4. And, it means that taxpayers will not get anything out of the deal, if I understand

correctly--the government (us) won't get any equity if those assets go up in value after being bought for cheap (I'm assuming a low price). AND, who's going to buy these assets, just because they're insured? Lot of unanswered questions, I don't really understand it well.