Saracuda needs to call a time out and make them all go stand in a different corner.
There are many GOOD plans out there, we just need to have a public debate on it. The Panic mongers are trying to rush things along for fear the world will end or something.
Lets find out. Shut down Wall street for a day or two and see if the world ends.
I figure Wretched will let us know, since it is already tomorrow there.
No, if the market is closed it can’t crash. So close it and call Congress into an emergency session. Lock ‘em in, order pizza and don’t let them out until they have a deal that will pass that doesn’t involved giving a Trillion dollars to the very guys that created this mess and waving them off into the sunset.
After they get a bill thru, open Wall street back up and see what they think of it.
I am not worried about a general meltdown. Worse comes to worse and the FDIC will cover the failed banks for normal people. NOT ALL BANKS wil fail. Even in ’29, there were banks that didn’t fail. Banks that weren’t over-leveraged. Banks that were well managed. The normal people, those with less then 100,000 in their accounts, will just move it to a well run bank, one that hasn’t failed. That will give them LOTS of capital. Not all businesses failed in ’29 and they won’t all fail in ’08. Those that are well managed will make it and they will have customers with FDIC checks to see them thru.
So I think Congress should call their bluff. It would be much better to shell out millions of 100,000 $US checks then one biggie for 700 BILLION. I know the first number is larger, but all those little checks would find their way back into the system. NOBODY can say what will happen to that 700 BILLION. Is there a name on that check or is it made out to “CASH”?

The SEC started an investigation on the 19th. Congress needs to get into the act, as well as the FBI. A joint task force to determine EXACTLY what happened and who did it. A REAL commission not a Warren or 9-11 type cover-up commission.