[randita]

Good explanation. I’m seeing more and more articles explaining what you just explained - some even recommending buying BAC and C now at their bargain basement prices. They’re basically penny stocks now - how much can you lose?

Why do you think Geithner hasn’t announced a plan yet? Was supposed to today, but that got called off (market didn’t like it much when that happened).

This is the second postponement. He’s looking very indecisive and that’s causing fear and lack of trust.

[JasonC]

Incredible amounts of populist pressure not to be seen helping the banks in any way. It is idiocy, but it is the political reality of the moment. Has been since Bear Stearns day, really. All the top regulators know what it actually required, but they think they need populist political cover to do any of it, and the bomb throwers in the gallery do not care a lick what they burn down, as long as they can cast the blame elsewhere. It is just epic irresponsibility fighting political weak technocrats.