Analyst Solves Global Financial Crisis

June 26th, 2012
in econ_news

Econintersect:  Michael David White is a well known real estate and mortgage market analyst.  White has just released a revolutionary summary breaking-news-130px1of the path to solving the global financial crisis through his website,

White has determined that the solution reduces to simply returning to a sane bankruptcy process that forces creditors, who have entered into imprudent leverage with creditors who do not have the assets to repay debt, to accept what assets remain and write off the rest.  An info graphic containing three charts that tell the entire story.  Continue after the Read more . . . jump to see the info graphic.

Follow up:

Here is the info graphic:


Editor's note: Yes, pension funds, mom and pop investors and other Main Street folks will lose money on this deal, but so will the financial oligarchy that created this mess. As things have proceeded to date, the Main Street investors have been accumulating their losses but oligarchy has not been getting hit. It's time to recognize, as economist Michael Hudson has often stated: Debts that cannot be repaid, will not be repaid.

John Lounsbury


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1 comment

  1. john warren says :

    more liberal clap trap where all is well and borrowers are not responsible. after housing what? the stock market? making gm bond holders whole? write off medical bills? Car loans? Who unwinds the MBS and gets countries holding debt to accept the write offs including union pension funds, university endowment funds, state retirement funds or does Bernanke just print more and taxpayers cover irresponsibility?



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