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I am amazed at the lack of depth of knowledge regarding this current issue and how naively SIMPLISTIC people have claimed this issue to be. This isn't just about housing prices and subsidizing banks that were involved in the mortgage market . . . it's about banks having enough good collateral...

Duh. I never said that they wouldn't be. But it is interesting that you conveniently left out Wamu, Wachovia, Citibank, and a whole host of others . . .

There is a "game-plan". The problem is that 98% of the UNITED STATES CONGRESS knows nothing about economics or the banking system, and, they have no clue how this effects their constituents. "Jfic" is correct. One pint of blood for a patient that is in the ER and bleeding-out is a joke...

The 700 billion dollar proposal by Paulson is not going solely to Wall Street investment banks.

Pabst, your analogy is a bit of a stretch. Tech analysts had absolutely no direct economic bearing on the livelihoods of those tech companies and their economic viability going forward. Your analogy sounds good, but it misses my point. These agencies had no clue ( see AIG for example )...

The suggestion of only $150 billion came from Chuck "On The Cheap" Schumer. It's a $14 TRILLION dollar marketplace, Chuck. Duh.

I know that with your thick skull this is most difficult for you to grasp: The patient is in intensive care. The machines in the room are making bizarre noises . . . But I'm not surprised that you don't have a clue about how FROZEN the commercial paper market is, or the fact that...

Excellent points. And I think that this just isn't about I-Banks but the entire commercial banking system. One doesn't have to look any further than Wamu or Wachovia to appreciate that. Can't wait for all of the absurd credit rating agencies who have tons of publicly traded companies all...

Then you are advocating for a Depression.

Feel free to check the commercial paper market and get back to me . . .

Your "chicken and egg" logic is downright bizarre. Try doing some homework on Paulson's plan to become better informed. There won't be any CONSUMERS if American businesses are unable to generate economic growth and jobs. They need loans to do this, and in order to make loans they need to...

Thank You. And yes, for those that are interested I am indeed an American citizen.

The only complacency that I see is in CONGRESS, who once again did nothing other than play the BLAME game today.

Good point. But I would also suggest that Congress be put in prison as well. They are the ones ( such as Dick Armey and many others ) who sat idly by "cheerleading" Fannie and Freddie making loans to people that had absolutely no way of making good on their mortgages . . . And to now watch...

Speaking of transparency, have the Fed force the banks to lift up the "kimono" and show us what those Tier-3 level assets actually are.

The banking system is FROZEN. The commercial paper market is FROZEN. One month T-bill rates went NEGATIVE today. You don't get it. This doesn't have much to do with the people that you cite, as much as it has to do with avoiding a total economic meltdown. The banking system loans money...

Too ironic how Congress villifies Wall Street while it was CONGRESS that sat back and knew full well that Fannie and Freddie was giving out loans ( and the home ownership "mandate" ) to people that had no financial means whatsoever of assuming a mortgage.

Another absurd thread on ET. Does anyone actually TRADE for a living, or simply sit around all day on ET making ridiculous posts of no value? Given today's Q&A session in Congress, it's quite clear that they don't have a freaking clue what is going on . . . but leave it to someone here on...

Yes, we need to start the DEPRESSION as soon as possible. One month T-Bill rates went negative today. Get a clue, people.

I don't believe for one nanosecond that Bernanke and Paulson are OVERSTATING the risk of what is currently going on in our Economy. Do you realize that 1-month T Bill rates went NEGATIVE today? And yes, I do have confidence in Paulson. He's made a career out of making money. I think that...