I like George’s idea too — will rework it into a posting. I do have a candidate for April from someone who works for the government so he can’t post it himself.

I would like to temporarily refocus the site from trying to find the next next thing to getting what I have out int a book form.

Here’s my idea to save the world economy, harnessing the same greed, lack of transparency, and sheer stupidity which have driven this crisis — as forces for good.

The raw material:

Think of 1. the comedian who says we needed to build Las Vegas so that we’d have a place to send all the people with poor math skills. 2. state governments who can’t run deficits and have turned to (dirty little secret) the most regressive tax people can’t seem to get enough of: The Lottery. 3. A TARP-load of toxic assets so complicated they can’t be accurately valued, but which in many cases (like CDO’s) continue to fart cash and will continue to for many years to come, soon to be dispatched to “public/private auctions” at which their steep discounts will be subsidized by future taxpayers (i.e. today’s kids).

The Product:

Take the toxic assets which don’t win their minimum reserve amounts at auction, write them down, and place them in the Federal Reserve equivalent of a Prize Box/grab bag at a garage sale. Donate these sacks o’ crap to state Lotto authorities in lieu of block grants. Mix thoroughly, shake until frothy, and voila! A stimulus sandwich in which ordinary Lotto tickets are now spiked with extra goodness - a unit or share of a CDO or similar toxic goodie - with the potential to be worth nothing, or to dividend thousands in cash for years.

The mystery itself is the irresistible attraction — nobody knows what it could be worth — anyone could be a winner. Selling the Lotto has always been about “selling the dream”. What dream could be better than getting back at those sneering Masters of the Universe with a single Lotto ticket? It’s economic justice ala Frank Capra: the little guy lands one right on the nose of Citigroup, winning its own CDOs, just in time to save his house from foreclosure by … Citigroup.

States win because they attract more Lotto players. Lots more: such a sweetener would be insanely easy to market and generate lotsa free PR. “Tonight on Action News: a local pipefitter scratches to win a $100 Lotto prize, THEN finds out he owns 150 subprime mortgages in Schenectady with an annual cash payout of $2.5 million, net of bad debt. Still, he and his wife say hey have no plans to quit their day jobs.”

Feds win because they’re at least getting something for these unfathomable wastoids — their “gifts” to state budgets are now producing real value (there’s no gross margin like the Lotto, and big spikes in purchasing [can you say Powerball?] are almost pure profit) out of frankly useless assets, offsetting other real claims on the Federal budget by those greedy states who insist on balancing their check books each year. Show offs.

Tranche Warfare, Not Welfare

Yes, Virginia, it’s subversive as hell. At least for some, a regressive tax on the mathematically challenged could — at least sometimes– produce legitimate wealth, and stimulate local economies. And the idea that breathing life and asset value back into some of these zombies can benefit someone OTHER than usual shadowy Wall Street types who are rigging the game offers hope to those who may have given up on the implied promise of good faith and fair dealing in a democratic market economy. Might even build up the business literacy of the Lotto-buying public (Joe, ya gonna finish ya pickle, and, uh, maybe arbitrage some of my backloaded subordinated notes?)

“All you need is a dollar and a dream”

And it’s not like all of my ideas are that good either. If it were that easy there wouldn’t be $1-million on the line.

When will you be back on the radio here?