SO42

Global Cardiac Arrest

And...Points to DougM....." To cure the heart attack, it's time for bypass surgery. Central banks should bypass the banks and step into the CP and muni paper markets directly. ".....this gets an SJ nod.

Global Cardiac Arrest

How would devaluing the dollar be accomplished in a sensible way?

And I do like that "discount window funds from central banks could come with strings attached: essentially forcing some percentage of those funds to be onlent in the interbank market." a sorta, "we'll throw you a line, in exchange for "X" portion MUST be interbank. A not-so-subtle kick in the pants, before we will have to get the Tin Man out here with his oil can.