Yesterday The Big Picture’s Barry Ritholtz challenged three other business/finance bloggers to start an “9/11 Options Grantee fund."

Now we have their responses.

Larry Ribstein: “Clever ploy, Big Picture, but it doesn't work.”

Steven Bainbridge: “Ditto.”

Eddy Elfenbein: "So Barry, but I won’t bite."

Also, you can check what DealBreaker’s readers think of the post-9/11 options grant here.

The debate about 9/11 options grants just got more interesting. Over at the Big Picture, Barry Ritholtz lays down a challenge. He wants Professor Bainbridge, Larry Ribstein and Eddy Elfenbein—who have defended the grants—to put their money where the mouths are—in a 9/11 Options Grantee Fund.

Let's assemble the 9/11 Options Grantee fund (that's a catchier title than the "Apologist Fund"). Then, I propose that Bainbridge and Ribstein and Elfenbein put their actual money at risk with this collection of fine, fine human beings and outstanding corporate executives.

I say less talk, and more actual money at risk.

Its time for the chattering class to step up and prove they have the right stuff. Few things focus the mind like hard earned cash at actual risk. Under those circumstances, will the apologisms somehow become less glib than the what we have seen so far? (That's my suspicion).