Not from where I stand. I don't know how they even got that number, or why that was the only option offered. Ben Bernanke and Henry Paulson remind me of the guy whose only skill was the use of a hammer. He viewed the world in terms of nails.
Loaning banks the money to cover current debt and insuring them against future loss should be a consideration. Newt Gingrich is right. Loans are politically viable. Purchase of bad debt is not.
The point is, we'll take on the bad debt while the banks keep the good debt. How can we buy this?
From both presidential candidates I want to hear these words: "As president, I will do everything in my power to abolish the Federal Reserve System and return the monetary system back to the people where it belongs." (Since the creation of the FRS in 1913, the U.S. dollar has lost 95 percent of its purchasing power.)
If you want to see a detailed alternative, check out R. Shah Gilani's "Money Morning Plan." If you agree, please contact our representatives and let them know.
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