CBO report stated that the idiotic "Cap and Trade"
idea will doom the nation to third world status. The report I heard also began to mention "rapid inflation" (hyper inflation a la 1944 Germany) , and the vague possibility of depression.
Yet, still no releaf from "mark to market", no reinstatment of the "uptick" rule, and only now talk of an exchange for bundled securities , "credit default" assets, that would include margin requirements. As these are the riskiest of all, I'd like to see 60% margins required.
When there is a zero margin, as with the 100% and + loans that brought us to this juncture, the end is ALWAYS a disaster.
But the Cin C continues to talk out his fifth point about not doing things until the business cycle can be tamed. Facts are the cycle cannot be tamed IF yiou want wealth creation, but if you are staisfied to let your children freeze and starve in the dart, perminant stability CAN be reached. Just ask the N. K