Once the U.S. Government owns the securities (and, thereby, the property) an omnipotent Paulson could essentially take the land out of circulation by "preserving" it as public land.
He could even claim — through the economic device of "contingent valuation" — that the acquired land has more value as pristine public land than as, say, an energy or logging project.
Contingent valuation uses opinion surveys to value intangible assets for which there is no market, such as scenic views and crystal-clear air.
Respondents are asked hypothetical questions like, "How much would you pay to preserve a seashore view from oil drilling?" or "How much is it worth to keep a forest pristine and un-logged?"
Though the whole process is pretend — the respondents know they won't actually spend any of their own money for this preservation — the government uses the method to establish monetary values of preserved la
Paulson could use bailout money to purchase debt securities that are secured by property either coveted by Greens