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USA Financial Meltdown

The best commentary that I have seen on the financial meltdown in American, and the rescue package is here at [^]


The idea behind the site is to allow ordinary Americans access to the same deal as the big banks.  From the website:

With our economy in crisis, the US Government is scrambling to rescue our banks by purchasing their “distressed assets”, i.e., assets that no one else wants to buy from them. We figured that instead of protesting this plan, we’d give regular Americans the same opportunity to sell their bad assets to the government. We need your help and you need the Government’s help! [^]

In line with the deal that the banks are getting, the site suggests that the estimated value that you use should be what you think the asset is worth, not what you think you can sell them for.  All of a sudden Billy Ray Cyrus and Men at Work LPs have a value again, rather than having to pay to dispose of them!

After looking at it this way I have one question for you: Does it make sense?

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