it seems that the US treasury is going to do something that I would do.
Kinda nationalise mortgages (they're only doing it with some though, I think)
They should kinda do it in conjunction with all other goves as well though, its high risk otherwise, also somehow they have to be tougher in negotiation with financial world for them to also get the more 'desirable' mortgage and personal debt nationalised, this could be part of the cost that the commercial market has to pay in return for having their 'exposure' reduced.
Provisio, for this to work they still need to keep on top of things and get others (govs) to sign up to this.
There needs to be a mechanism established where govs can then exchange mortgages and loan debt with orhter govs to return them to their country of origin