Our Economic Policy Is Up a Creek With a Paddle

If you want to "prime the pump" force the banks and financial institutio­ns to writeoff/w­rite down the value of the housing and mortgage mess they created to real market values. If some default or go bankrupt, salvage them as we did with the de-regulat­ed S & L's in the seventies, recapitali­ze them through nationaliz­ation and resale like the Resolution Trust Corp., insist on increased financial institutio­n equity capital of 15%-20%, and Prudent Man investment policies in the future.

Since housing and constructi­on have always represente­d so much of American economy, those actions would truly start things moving.
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