[politicket]

And if you want to see "worse" you would already have seen it in the last 2 days without the Fed/Treasury action.

I saw it WITH the Fed/Treasury action.

Let's review: the U.S. government nationalized an entire sector of our country and nobody seems to care; the government is creating powers and/or an organization to put us (in reality) $2 trillion dollars further into debt; the massive problems in the derivatives market that threatened to shut down the global economy are still there - and won't be solved by "fixing" the mortgage problem....etc...etc...etc...

[what's up]

WITHOUT the Fed action people could very well be talking about rescuing their savings from on banks this weekend. Yes, Thursday was that serious.

If you want banks to fail and 10-12% unemployment for years, then you are correct to hope the Gov't does nothing to save financial institutions.

[sanchmo]

Fed is a central bank, with its 2 most important responsibilities being stabilizing the currency & money supply (that is, preventing runaway inflation and deflation), and acting as lender of last resort in times of catastrophic danger. I’ve critized Greenspan & Bernanke for quite some time, and we’re not out of the woods, but I don’t know what else they could have done to have kept today from being another 10/29/29.