Extra Credit, Wednesday Edition

Let Detroit Go Bankrupt: Mitt Romney joins those wanting the government to provide post-bankruptcy financing and warranty guarantees, rather than bailing out GM bondholders.

A Housing Fix with the Right Incentives: Jed Graham on how the government can become a super-senior lien holder and help shore up the property market without encouraging default or foreclosure, or bailing out lienholders.

Debt Man Walking: A very good article by John Judis on Bretton Woods III.

The Professor’s Pop Quiz: Who Controls A.I.G.? Answer: No one knows, although it would seem to be a shadowy entity known as the A.I.G. Credit Facility Trust.

137 pages of Wayne County foreclosures: ie Detroit. And that’s without any auto-industry bankruptcies.

Pirate Theory Of Credit Crunch Aversion: And also: Piracy V. Private Equity: A Comparison, between IRR and Aaargh.

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