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Nays have it! For Now.
Published by Admin2 September 29th, 2008 1 Comment

Wow, just wow!  Hopefully they will stay in Washington and implement a plan that has a chance in hell of working.
This is a rare victory for democracy, folks!  Now they need to get it together, consult real economists who aren’t owned by Wall Street, and come up with a plan that makes sense.

Down the rabbit hole..
Published by Admin2 September 28th, 2008 0 Comments

So far, very bad. Suspends mark-to-market pricing (not surprising, as it would BK many banks), allows banks to maintain ZERO percent reserves as of Oct. 1 (are they encouraging a bank run? From the comments of another blog: “Can it still be called Fractional Reserve Banking if there’s a zero in the numerator?” - [...]