Former US official proposes solvency crisis fund

ARGENTINA - While Argentina's perilous brush with bankruptcy has sparked a renewed debate on the idea of officially-sanctioned debt standstills, a former top official of the Federal Reserve and the Treasury Department on Monday proposed another way of making the private sector foot the bill during debt crises.

During a speech at New York University, Edwin "Ted" Truman suggested that the imposition of a 0.1% fee on offshore investment could raise $250 billion-$300 billion for a trust fund that