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it's all self-fullfilling disaster. The only reason something now needs to be done to calm the markets is because Paulson told the world that Congress would do something this week to calm the markets. Now that they might not, the markets are in a panic they wouldn't otherwise have been.
Similarly, I can't blame anyone for balking when the Treasury and the Fed are asking for 3/4 of a trillion dollars to control, claiming they are the only guys smart enough to fix the problem they weren't smart enough to contribute mightily to in the first place.
It's all topsy-turvy, LewisCarollian illogical craziness. Burn, baby, burn.
Very callous of me, but things will play out whether we throw money at it or not ... might as well not, imo.
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