one more: financial systems as ecosystems

[miriamjoyce]

from here
The bailout of the global financial giants is likely to fail. Appropriately, an environmental metaphor best describes the difficulty of saving the global financial giants. They are best thought of as the sharks at the top of a food chain. Their size grew rapidly as deregulation allowed them to gorge themselves, but now they are losing

Comments

curious

[lizardsmae]

What sort of steps could be taken for the Plankton?

Re: curious

[miriamjoyce]

just a few:

(1) foreclosure moratorium
(2) stricter bank and lending regulations
(3) forced re-writing of the terms of predatory or unsustainable loans
(4) increased bankruptcy protections (i.e. allowing bankruptcy judges to rewrite mortgage terms
(5) forcing banks to maintain properties they have foreclosed on to keep them from affecting surrounding properties
(6) funding ("bailout" if you will) for reclaiming foreclosed properties and keeping homeowners in distress in place.

Re: curious

[lizardsmae]

thanks. This just seems so big it is hard to wrap your head around

Re: curious

[bratling]

did you see the debate last night? McCain said he would, as President, buy foreclosed loans from banks, then refinance at current property value with homeowners.

basically, he just offered a bribe to everyone facing foreclosure.