Diary

I've already been called stupid, so refrain from repetition

I read the article at the following address:  http://www.villagevoice.com/content/printVersion/850296  In it, it states that 30 trillion could be “clawed back” from the 600 trillion derivitives market participants.  Give it a read, and then consider.  600 trillion in assets are being supported by $15 trillion in home mortgages.  Wouldn’t paying off those home mortgages eliminate the “toxic assets” of the derivitives?  If truly 30 trillion could be recaptured through the justice systems going after the creators of these assets, wouldn’t that be worthwhile?  I mean, with 30 trillion, all of the outstanding mortgages could be paid off, and the Federal Debt could be paid off, with some left over. 

Okay, now, through your comments, don’t attack the messenger, just straighten out the mistaken understanding.