OK, to be fair, your post #53 is something I can deal with. Thank you.

Yes, a member of Congress has to balance the wishes of the mob with a vision of the best interest of the nation-at-large. I get that and I support that.

In this case, I would submit that the “experts” (Paulson/Bernanke) are guilty of gross malfeasance, and their opinions should be dismissed. We are faced with two options regarding Paulson/Bernanke:

They are grossly incompetant
They are continuing their pattern of lying and manipulation.

I’m down for #2.

Since they have attempted to “fix” the problem, we have lost 1/3 of the stock market and have seriously impaired (if not destroyed) the banking system of the USA.

I don’t need that kind of help.

Murray/Cantwell need a third option, which I have posted on my blog. This fixes the problem, but does not make any empty promises of our debt problems going away with a kiss from mommy or a magic wand. The Hank/Ben proposal still keeps us all in debt, but debases our currency and hikes our taxes. Their solution does not fix the problem – it papers over one of the symptoms.

Sometimes Joe-Blow gets it right. He does not want his hard earned money going to a bunch of Wall Street fatties. In this sense, he is 100% correct. Wall Street destroyed our banks, so why get them off the hook?

Fix the problem. We will rebuild what Wall Street has destroyed. We will rebuild on a foundation of healthy banks rather than on the rancid banks we now have.

If you were a doctor, and I came to you with a broken leg, would you just give me morphine and send me on my way, or would you set the leg?

Which gets to my second point–I haven’t offered a solution here. I don’t think having a degree in accounting (and a ton of credits in economics) and a degree in law give me the background to offer a solution. I’m having a hard enough time deciding whether I like the solution offered. I don’t expect Senators Cantwell and Murry to vote they way I want them to, I expect them to vote the way they think is best for the country, based on the advice of the best experts they can find.

What is your point? Only eggheads with JDs are allowed any kind of valid opinion?

You can always email me, Ardell or Dustin directly if one of your comments accidentally goes into spam. Sometimes if there’s one or more links in a comment, it will auto-spam it. We have access to the admin panel. Apologies!

http://www.rgemonitor.com/roubini-monitor/253713/the_unraveling_of_the_shadow_banking_system_moves_to_hedge_funds_as_schmalpha_replaces_alpha

There’s been more analysis posted today by CR and Dr. Krugman.

http://calculatedrisk.blogspot.com/

http://krugman.blogs.nytimes.com/2008/09/23/good-ideas-and-lies/

“I cannot believe the US citizenry is falling for this.”

I hope we don’t. MSM is reporting that consumers are mad and are contacting their elected representatives in droves.