Today's Stat

$4,000,000,000,000.00
The potential cost of the bad bank concept to buy up toxic assets of banks.

Yglesias estimates that is $13,000 for every man, woman, and child in the country.

IFF we're going to do something I'm back to my theory of giving every home owner (primary residence only) some dollar amount that must be used to refi their homes. Equity goes up. Debt levels and mortgage payments go down. Banks get money in the vault. Win-Win-Win.