[supercat]

I’m saying its time to restore confidence in the markets. Socialism caused this mess and unfortunately it will take govt action to get us out. Waiting for a pure market driven solution at this point will only result in the destruction of the United States.

Some government action is needed, certainly. A billion dollars toward prosecuting fraudsters would be a good start, as would passing rules to ensure an orderly fall of the CDS market (e.g. ensuring that assets get allocated among all claimants, rather than simply going to the earliest ones). I see no reason to believe that any action which does not clear the toxic paper will have any lasting effect, beyond the impoverishment of the American taxpayer.

[driftdiver]

Sure prosecution should happen, but it won’t.

This isn’t 1915, if our economy fails so will we. China, Russia, and the Muslims will all step into the power vacuum. We will truly become a 3rd world country.