Wow.

[david_mcmanus]

[TJ_98370]

..We should be as bold as Volcker, he suggests: Face the scale of the mess, take a $1 trillion writedown and shore up regulatory measures. His recommendations include forcing loan originators to retain the first losses; requiring prime brokers to stop lending to hedge funds that don't disclose their balance sheets; and bringing the trading of credit derivatives onto exchanges....

Good article. If Mr. Bernanke and friends are going to bail out investment banks with tax-payer dollars, they damn-sure better implement and enforce stronger regulatory measures on the whole mortgage finance sector.