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.