Readers suggested a topic on the PIMCO chiefs proposal. "Mr. Gross’s diatribe should be THE weekend topic. Right problem, wrong solution. He can’t reconcile his points, so it becomes incoherent."

One pointed out, "Let’s not forget, this isn’t some 'Robin Hood' do-gooder, 'help the little man' type of guy, this is Bill Gross, a very wealthy FUND MANAGER. When you fall for the illusion that such people are trying to help the little guy out, that’s when the crocodile strikes, pulls you underwater, and spins you around to prepare you for his next meal."

"A bailout of home-debtors? Sure. Just pay for it by removing the deduction on mortgage interest."

One questioned the logistics. "So pretend with me for a second that there will be a bailout. And pretend with me further that the size of the bailout is equal to the Iraq war funding. This is probably the right order of magnitude in order to bail out a significant fraction of FBs."

"Does anyone believe that our gov’t would be capable of doling out the funds to those who are actually in need of it? (Hmmm. Katrina part 2 anyone?)."

Another added, "I was pondering whether or not idiot-Gross’ suggestion on a Federal bailout would even be effective. I eventually came back to the same ole’ things we talk about. 1) Won’t bring median family incomes up to be able to buy homes at current prices. 2) It wont help the job losses, loss of consumption, etc. 3) It wont get yields down on jumbo mortgages, and on and on and on."

Another skeptic. "I cannot see how this would happen. A bailout of this magnitude? Remember that the LTCM and S&L bailouts were of companies and not a million or more homeowners, flippers, speculators, Wall Street slimeballs, foreign investors, hedge fund sharks, Cocaine Larry, and Bill Poole’s good friend Jim Cramer."

"I just don’t see this happening. More to the point, how do you prop up housing prices? Cheap jumbos? A very good argument can be made that the 'Law of Supply and Demand' does not really apply to this specific instance of slumping housing demand."

"The whole bailout would essentially be the gov’t buying part of the house, paying off part of the loan, reducing the interest rate on the house, and trying to prop the price. All of this would be needed."

"It’s really better to get it over with. The Japanese wanted to 'mitigate' their problem bubble in the late 80’s early 90’s and are still suffering. We are in the same boat."

"There should be a long discussion of national/gov’t/business hubris at this point, but I’ll pass."