Toxic Bank?

The current liquidity crisis and increasingly perilous state of the banking industry begs the question...what next?
Some are calling for a 'toxic bank' solution. A 'toxic bank' is an institution where bad debts from other banks would be pooled and managed.
I hate to say "I told you so"
...http://dondealga.blogspot.com/2006/01/strategia.html in which I presented the Malaysian Danaharta/Danamodal experience for buying up bad loans and helping get the banks working again.

Don't know if the spetic tank bank concept is workable given the enormous scale of the debt problems afflicting the financial institutions, however what is apparent is that there needs to be urgent action taken. The concept of the toxic bank taking on bad debts freeing up banks from crippling liabilities and NPLs allowing them to move forward implies a shift of the debt burden to the tax-payers. It is touted as a solution based on experience from Sweden in the 1990s. The other key plank on which a toxic bank solution is premised is that the regular banks must write down their bad assets. A toxic bank will itself become "toxic" if it buys bank debts at inflated prices.

Flying....low!!!

Today we heard news of the heroic airline pilot who averted major disaster with his skill and cool handling of a striken aircraft. He reflects great credit on his profession and his business.
Unfortunately much of the airling industry reflects not much more than shoddiness and incompetence. From the boorishness of Ryanair's Michael O'Leary to the insensitivity of US airport security staff airline passengers experience ever lower standards of "service" and the industry continues its descent to bus station standards. Here is a sad tale of incompetence and disdain towards passengers as manifested in the attitude of the cabin crew of an international airline once known for its excellence.
http://rads-lifeanditsblows.blogspot.com/