Mr.G

Rescuing the U.S. Dollar

" As this crisis is one of bank confidence, the Federal rescue with its real relief for bank balance sheets, should succeed in restoring over time a functioning US market, if not in returning unbounded confidence. Banks will lend to each other and the normal round of electronic credit will gradually resume" -and the magic fairy will spread love all over the world and there will be peace- while Santa gives everyone money to buy new cars from GM and pay off their mortgages they cant afford and everbody will hold hands and sing "kumbaya " at the close of the bell on wall street in a month when the dow reaches a new high of 20,000-
dose of reality 700 billion doesnt begin to touch the problem and once again the Fed and Paulson have underestimated the "housing problem" as they like to call it -this bailout may not even buy time at this point