[JasonC]

Agreed. But someone has to make the barking moonbats shut up, or they will smash it all to atoms. The Treasury caved to the flack in took over Bear this weekend, and tossed technocratic sense out the window. If the populist firestorm is tolerated and indulged, there won't be any sound policy on any of this.

[buwaya]

The Treasury/Fed/etc. are not likely to be reacting to the “populist firestorm”. Give these guys some credit, they are adults over there. This business in complex and has many angles, and no doubt there are judgement calls.

[palmer]

The Treasury caved to the flack in took over Bear this weekend, and tossed technocratic sense out the window. If the populist firestorm is tolerated and indulged, there won't be any sound policy on any of this.

That's mostly incorrect. The Treasury had to triage Lehman and Merrill this weekend and got BoA to pony up for one. One out of two ain't bad in this environment.