So NPR this morning broadcast an interview with some guys at the University of Maryland Economics Department who appear to have a proposal in to run the "reverse auctions" that are supposed to buy up all the junk that is dragging down our financial system. It appears that they have never done a reverse auction before but they are up to the task and have published a 21 page paper on just how they want to do it.

I am sure that it has many, very amusing equations.

My friend David Gelb - who really should be blogging - has sent me an alternate proposal that takes up all of one page. It has the further advantage that the taxpayers get a share of the revived financial firms as opposed to a pile of worthless paper.

I only hope that the economic theorists can't design their auctions in time and we have to go to plan B direct rescue.

Its an old saying that I first heard in church basements: Keep It Simple Stupid.