in support of Obama's Nobel Peace Prize

I think Obama more than deserved the Nobel Peace Prize..the silent majority maybe no match for the vocal media minority including BT's Vikram Kanna who shared my admiration for Obama..it is easy to jump on the media conventional wisdom bandwagon instead of appreciating Nobel award panel's insight and vision, and its true that there are many hard toiling deserving winners w/o Obama's charm and clout..but hey there is only 1 Nobel Peach Prize a year and Obama's impact and contribution is more than deserving...maybe Martin Luther King (1964) or even Nelson Mandela (1993) is more transformative...but can you imagine what USA and the world would be like if George Bush or John McCain (decent genuine folk he maybe) were US president..

Obama's impact is if anything no less than Mohammed Yunus (2006) and Medecins sans Frontier ('doctors without borders')(1999) and most certainly far more than Al Gore (2007)..

Obama team have accomplished in 9+ months no recent US or world leader have done in decades..Geithner, working without senate confirmed assistant secretaries and staffers, turn around Wall Street, saved the world financial market from unseemly collapse and the livelihood of millions...got GM & Chrysler in and out of bankruptcy saving millions of jobs...more importantly Obama got a whole leaderless generation in USA and worldwide to believe again "yes, I can"...his election and inauguration moved the entire world...conservatives who attacked Obama team on every solution that have proven to work beautifully and branded TARP, stimulus, healthcare, consumer protection as socialist, big government, nationalisation etc are simply living in the past (where George Bush surrounded by crooks and cronies ruled by lies, corruption and ineptitude) and so faithless..but Obama generation can believe again, are motivated and know the difference between talk and action...no drama Obama never claims he can solve all the problems (having inherited 2 wars, a planet in peril and financial collapse) in 1 year or even one term, but looking at the intelligent, pragmatic, problem solving doer team he gathered who solve the financial crisis as volunteers while awaiting senate confirmation, we have confidence he is getting there - climate change, Afghanistan, Iraq, ME, Iran, North Korea..these are not the same incompetent above the law fat cats (Bush cronies) who still defends torture, waterboarding, Guantanamo Bay, Abu Graib (Cheney), who attacked Iraq based on lies and brought untold miseries for generations to those american and Iraqi families who suffer losses of loved ones for no reasons (Rumsfeld) etc...

we can criticise the Nobel Peace prize as too early if it is awarded for lifetime devotion rather than size of impact (and so Obama and his advisors are themselves surprised), but while Obama team will need maybe 1 or 2 terms to bring the planet in peril from the brink of self destruction, he can be credited with triggering the process (like Colin Powell said Obama is transformative and game changing and a product of the times - without the disastrous and divisive Bush years there maybe no Obama phenomenon) and so in my humble opinion the Nobel Peace Prize has no more deserving recepient...and Mohamed Yunus, doctors without borders and Al Gore (despite their more than magnificient contributions) are of no comparison...

Suggestion to Obama Transition team

hi

not sure if it will work or how difficult it is to implement...
but if subprime is the original trigger (though it is really a manifestation of excesses, bubble, corruption & incompetence of the last 8 years) and subprime poisoned the CDO baskets which originally comprises supposedly healthy assets before the global financial meltdown and credit crunch, then is it possible to focus on auctioning off removing subrpime and toxic assets (NOT the entire bank loan portfolios with mostly "would-have-been" healthy loan assets..
instead of just pumping US$250b orUS$750b into Wall Street (and Main Street), can a government entity be set up to buy ONLY the subprime mortgages INSTEAD of the CDOs tainted with subprimes(and otherwise "would-have-been" healthy bank loans which overnight became non performing as a result). this will take away the multipier effect and maybe reduce by 10x or 20x the taxpayer's $ required for the buyout.

this is NOT a bail out at all but a commercial transaction as if banks were to sell "would-have-been" healthy loans and shares at bashed down prices, then they can sell subprimes at bashed down prices so $0 even so that confidence can return and "would-have-been" healthy loan portfolios will begin to recover to "would-have-been" fair price...
if subprime were bought out at $0 or 10% or even 30% of the price then most will NO LONGER be subprime as the borrowers would now be able to pay their mortgages and the housing price even at a high 30% are already higher than the current illiquid hosuing market...(whereas banks, savings & loans, freddie mac, fannie mae are going for $0 bankruptcy or 10% or their peak price)
this way-

1. subprime borrowers can to keep their home and continue to pay their mortgage with dignity and NOT force out of their homes, which is 1 of your main themes...
2. taxpayers may even make some $ from buying out subprime at based-down prices...which at 10% of 30% of original house price must be the bluest chip loan asset
3. Wall Street get a chance to recover and return value to its shareholders and bondholders with removal of subprime (which hopefully also remove toxic assets...this may not fully be as there are also "subprime" in credit card and other loans...then such individual subprime loans should be auctioned and NOT the baskets....basically any type subprime loans where borrowere default today but unlikley to default if priced at 10% or 30% should be bought out and remove and the remaining loans will hopefully be back to performing again w/o default...
4. Obama adminstration provide leadership and regulatory oversight but NOT bureaucracy being forced to manage commercial entities (likely inefficiently and stifle innovation and "change" despite being well-intentioned and not yet corrupt at the beginning...this risk is there...)..the adminstration can continue to provide leadership and regulatory oversight w/o being shareholder of Wall Street
   all the best...the world needs a strong healthy leader and innovative non corrupt america
   

brgds
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