Someone asked me back at the end of 2008, shortly after the meltdown, what I would do to address the current economic crisis. Since then I have put out a list once or twice a year on the subject. Here are some of the gifts I would like to see under our national Christmas tree, gift wrapping optional.
Force banks to prove they are financially sound and not bankrupt.
1. Evaluate assets and solvency on mark to market basis
2. Remove discredited executive leadership
3. Enforce Prompt Corrective Action to place financial institutions into bankruptcy or receivership regardless of size
4. Initiate forensic audits of financial institutions, investigate and prosecute fraud at all levels (both fraud in lending and control fraud); RICO malefactors
