[VaSteve]

Originally Posted by turbo6bar

I'm a laissez fair dumbass. However, I believe (and I could just be venting anger) govt intervention should be accompanied by some legislation or regulation. If these guys are too big to fail, then we should eliminate the big dogs. If leverage was the culprit, manage reserves better. I believe our ultimate undoing was an unusually long period of low interest rates due to mis-pricing of risk. There were too many dollars chasing too few quality investments.

I agree that there should be some legislation or some revisiting of past legislation (see Graham Leach Bliley Act of 1998/1999). But I am glad that they haven't done it yet. Knee jerk legislation is not the answer....a well reasoned (or partially) reasoned solution would be better than something cobbled together over the weekend, like these bailouts.

What is surprising is that for the last 3 weeks, this stuff has happened on the weekend. Why?