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Mar 21st 2012 11:17AM Simulator, Shmimulator. What's needed is a forward looking (actually a 360 deg. ) sonar system that senses underwater obstructions and gives loud and bright warnings when at given course and speed there will be a collision. Automaticecalculation of an avoidance course or backwatering should be included. The Costa is (was) a $.5 billion ship with what 4K people aboard. I'm amazed that (if) such ships don't already have such systems.
Jan 7th 2009 8:00AM How about an old disregarded idea? - Spend up to $1 trillion to buy up the bad mortgages, reissue new ones at, say 6% for 30 years. Then ask the courts, including the Supreme Ct., to actually work with the Admin. and Congress by setting precedents of nullifying contracts so complicated no one understood them, CDO's CDS's, swaps. The dissolution on CDS's for example, would be "This was fraud, or mistake or mutual mistake, so any premiums paid get refunded and the risk goes back to the original risk taker," e.g., the lender.
Meantime, Bailoutsters Paulson, Bernanke, and members of Congress could get real jobs as pirates. It's a more honest prpfession than national politics or lobbying, and a step up socially!