With the bond auction market in a struggle, federal regulators are being urged to get behind a plan that some bond sellers are pushing as a short-term fix. Lets take a quick look at how we can perhaps buy back our own IOU’s and clean off our slate.

Call it quits and start over? Perhaps a little regulatory Laxity:

US Corporate Bond Update 1/13/2008:
Spreads on U.S. corporate bonds widened slightly on Thursday as earnings results from Lehman Brothers failed to ease concerns about the impact of a U.S. credit crisis on financial firms, a trader said. Spreads on Goldman Sachs' 6.45 percent notes due in 2036 widened to 229 basis points, versus 215 basis points over Treasuries on Tuesday, the last significant trade.