‘Bad Country’ Needed, Not ‘Bad Bank’

Our great UK leader, Gordon Brown, has admitted yesterday to thinking about creating a ‘Bad bank.’ Along the lines of the original US TARP model, this would buy the worthless assets (can you spot the problem with this idea yet?) from UK Banks, which would relieve their balance sheets and so enable them to lend and end the credit crisis.

Genius, ain’t it?

However, this is such a good idea that we should think much bigger instead. What the world needs is a bad country that ‘buys’ all the bad debt from across the globe and so sacrifices itself in order that the rest of the world can emerge quickly from its economic malaise. We should immediately ask the UN to vote on this, as we could do this and end the global recession in a few weeks.

I suggest some countries below, please add more in the comments; You only get 2 sentences to make your case.

Luxembourg - they can’t invade us back and are a bunch of tax evading accountants and lawyers.

Israel - if this is a UN vote, then the outcome is a forgone conclusion; as they are brilliant business people and would soon be out of trouble in any event….

Zimbabwe - With hyperinflation at over 2 million percent, the debt would all be reduced to a manageable amount within in a few minutes…

Iceland - They got is into this mess….

Taiwan - St Helena, well it worked for Napoleon.

So who else, did I miss any obvious ones?

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Comment by Donald W.

2009-01-09 18:14:11

Hey, what is wrong with you…We (U.S.) is already the bad country. Just declare all of eurozone a bank and collect.

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