Who wants to buy a Toxic Asset!

Pajamas Media » Geithner Bank Plan: A ‘Third Way’

I left the following as a comment to the above article.

I think they should turn it into a game show: Who Wants to Buy a Toxic Asset.

You show up with a bundle of “toxic” assets and it is valued by, say, ten groups of money men who are fronted by sexy models. But the first step is “Government roulette.” A wheel is spun, and purely by chance the government will offer you anything from 10 cents on the dollar to, say, 60 cents on the dollar (about a hundred to one shot for the high amount).

If you refuse the government offer, you then get to choose among the boxes that contain the offer of the various money men. You open the first three boxes at random. You get to choose the highest bid. If you open the next five, you get to choose the second highest bid but it is bought by the highest bidder. If you open the next two, you get the highest bid and the highest bidder buys it. But once you decide there, is no going back.

You might need the contestant to spin the wheel a few more times, and have cheering Wall Street types shouting advice. You know, to help the ratings.

My comment is awaiting moderation, and the moderator may be a moderate and decide not to post it so I put it here. The article explains why the Geithner plan might "actually work."
 
My plan definitely will work.