Malkin has the dumb idea of the week. The problems with the economy were caused by a combination of factors including lending money to people who could not pay it back, and bank lending policies that were not above board.
So instead of not doing that again, why don’t we just… do it all again.
Goodness, directly from Bloomberg, my emphasis added.
The Treasury and the Fed will help fund new loans packaged into securities for sale to investors, the people said. Treasury Secretary Henry Paulson, who scheduled a press conference for 10 a.m. New York time, said two weeks ago that he wants to spur lending for automobile purchases and college education while also reducing the cost of credit-card debt.
Isn’t this exactly what got us into this situation?