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In order to repair financial markets the government must create a so-called bad bank -- that's according to Laura Tyson, an economic adviser to the Obama administration.
Speaking at the annual meeting of the World Economic Forum, she said, "the natural next step is, which is real simple, you take the bad assets out, the balance sheets are hit really hard, you recapitalize banks with different rules, and they go out again and lend."
However billionaire investor George Soros sees a bad bank as more of a band-aid than anything else. He calls the bad bank initiatives "only palliatives."
Instead, Soros thinks the solution lies with a new bank.
"I would keep the capital of the banks together with the bad assets in the bad bank and then create a new bank..." His comments suggests, at least to me, that a key to recovery could be kicking the bums out of the corner offices, to put it plainly.
And that leads to our Fast Money Reader Poll. Do you think a bad bank will spark a recovery?
Read More:
> Soros: 'Bad Bank' for Troubled Assets Is Bad Idea
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