Hello Great Depression 2

Oh well I kinda think we needed this to happen, I wonder if that means the federal reserve will learn how not to lower interest rates enough to ruin our economy
 
Here's the jist of William Isaac's plan:
The plan would allow the FDIC to purchase net worth certificates in troubled banks it things can be viable if give more time, perhaps five years. At the end of that period the bank would have to repay the notes issued by the FDIC.

The plan also called for suspending mark-to-market accounting rules that require companies to list their assets at current market value, something that is difficult to determine for many mortgage-backed securities.

And it would continue a newly implement Securities and Exchange Commission curb on short-selling of stocks.
Click to expand...
 
Citibank just leaves a bad taste in my mouth, possibly that one of the biggest investors is the Emir of the United Arab Emirates ;/
 
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