Sure, let’s take Democrat Paul Kanjorski’s word for it that massive state intervention was needed to keep the economy from halting and never restarting. It sure is fortunate that we have an all-powerful state that can intervene in our personal finances without notice or due process! Perhaps it should be made even more powerful, so that the equity markets can be prevented from going down ever again... </s>
He described an "electronic run on the banks" that if given another 3 hours, would have taken over $5 Trillion out of our system and generated the end of the global economic economy we have today.
In 2015, we are in a much worse situation. Years of Fed "pumping" has left the system inflated, bloated, and ready to burst. This time, there will be blood on the walls.