Space Junk

Tried posting this once all ready.. Hopefully it wont double post..
Anyhow...

Hummm all this talk about space trash and such got me thinking..
Would it be feasible to start a space clean up business?.. Lets think
about this. The LEO satellite market fell through leaving most of the
privet space ventures to hang their future on tourism.. Or a NASA
contract to resupply ISS .. But how about space clean up in LEO?
Makes sense given the trash up there and that space warfare is a
growing possibility. Be a great idea to have a plan in place to clean
up the junk that could hang there for years to come...

The question here is any ideas on how to go about it? the technical
issues that might come with this..
Just off the top of my head I was thinking that a Dragnet type of
device rather large being held and guided by space craft or
satellites on each of its 4 corners and made of very tough layers of
material ( something like BigeLow uses in its space Habitats) catching
everything from deadly paint chips to small dead satellites... This is
just an off the top my head though, love to hear any ones input on
this....

Oh and Im sure many space fairing nation would be willing to help foot
the bill if that means longer satellite lifespan and less worries
about their future space ambitions..