Wow.

david_mcmanus

That's all I can say. Wow.

But everything is fine.....

http://www.bloomberg.com/apps/news?pid= ... CnscodO1s0

What he [Volcker] fears is that the U.S. will instead follow the Japanese precedent, seeking to ``downplay and to conceal. Continuing on that course will be a path to disaster.''

That's exactly what I think is happening right now.

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.