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Monday, September 29, 2008

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There have been studies and some attempt to create tsunami waves as a weapon. In World War II, the army in New Zealand trialled explosives in the area of today's Shakespear Regional Park to create small tsunamis, an attempt which failed.

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Great post, hopefully it's not too late for ideas like these.

gillian g.

Somewhat orthogonal to the creative ideas in this article, I've found a site that is unusually straightforward and detailed on on the topic of loan modifications (other consumer information online - much of it direct from the U.S. Treasury and related websites - is still either biased in favor of hyper-technical renditions of Obama's Home Affordability Plan or sketchy, watered-down tidbits intended for an uneducated public. I did find a site called HomeAffordPlan.com that seems to bridge the gap.

jeff

Yah Lauren, if you want to plunge the country into instant depression, go ahead. You don't have a clue about how this all started, do you? Don't you get it isn't about ma and pa's mortgage anymore?

Ever heard of the Bond market? All private lending to the US will cease immediately if you do this. Wait, I bet your answer to this hiccup will be some wild-ass money printing, right? Can you say Weimar?

It would be more helpful if you just shut the hell up and let the market correct itself. Take the pain now; otherwise you'll be a suicide later.

Didn't you get the lesson that FDR made the depression worse with the New Deal? Morganthau, his treasury sec admitted as much. WWII pulled us out of depression, but things didn't come back until 1953. Do you really want to go there again?

Actually, yours is such a tin-foil hat idea that I imagine this is a cunning plan to profit from the tsunami of litigation that would ensue. There won't be a tree left standing that hasn't been turned to foolscap. Way to go, destroy the system for personal profit!!

Mark F. Dunkle, Esq.  Dover, Delaware

A Hawaii v. Midkiff type effort, grounded in the Supreme Court's blessing of government's use of the takings power to remedy widespread social and economic evils in a malfunctioning real estate market, in the present case the foreclosure and mortgage lending crisis, makes great sense. It would be interesting to see an economist's take on the idea. Unfortunately many of the State's have passed post-Kelo limitations on the use of eminent domain to address widespread economic problems that would likely preclude transfers of takings properties to private owners. Federal action seems most appropriate. ALI-ABA should pull together a proposal in this regard.

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