Not really sure what to say right now. The massive bailout by the Treasury isn't a great thing, but it's the only thing they can do right now. It's going to be so politicized by the Dems that it may not get done fast enough and may have so many add-ons that it'll end up not doing enough.
The real issue out there are the Credit Default Swaps. They are the big unknown that could really bring down the house of cards. There are Trillions of $ in swaps just sitting out there waiting to explode. It's crazy. It's crazy that supposedly sane, professional, wise businessmen let it get this crazy and so close to collapse. As I've done more reading on the situation I'm even more flabbergasted. Companies were using the Swaps as insurance against bad credit decisions, and the Swaps are nothing more than some unregulated company saying they'll pay you if your credit decision goes bad. But they don't have, never had, didn't think they'd ever have, enough money to pay off the Swap. What a scam.
Well anyway, let's hope the Treasury bailout will come through fast enough and with enough teeth to settle the markets down, or else we're in for a rough ride.
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