[Tublecane]

I keep asking, “Why the urgency?” I mean, we don’t know the market won’t clear. We don’t even know if we’re in a recession yet.

Don’t get me wrong, we probably are in a recession. Let’s at least wait until we know before we jump further into socialism.

[what's up]

I keep asking, “Why the urgency?”

Because of last Thursday.

For the first time, there was a run on the banks to cash in CD's.

This would have immediately stopped car loans, credit card interest rates (on existing cards) would have gone up, unemployment would have gone up, small businesses wouldn't have met their payroll and would have failed.

Paulson pumped money in to stop the bank run, but it will happen again and he won't be able to stop it until something big is done. Last Thurday scared everyone and that's why the stock market took a huge dive that day until they announced the plan.

[Publius6961]

I keep asking, “Why the urgency?” I mean, we don’t know the market won’t clear. We don’t even know if we’re in a recession yet.

The only bright spot in this mess is that many are repeating the obvious: Yes, we have a problem; but it's more important to get the fix "right" rather than fast.
Otherwise, equally obviously, we can have a repeat of the original mess real soon. Only worse.

Think about it.
Transparency and accountability will be formulated by a bunch of crooks who have no clue about their own personal "transparency" and "responsibily?"

Yeah, that makes total sense...