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Well, Al Jezzera provided an amazingly excellent summary of the problems. Too bad they have no insight into middle east problems.. .
All that said, the comment about the bottom is an interesting one to consider. You can have an amazingly heavy ship that floats majestically over a very deep bottom. Once the ship starts sinking, the bottom can indeed be VERY deep. On the other hand, if there is a way to keep the ship afloat, then there is not requirement that the bottom need be explored. And, IMO, that is the effort that the Treasury and the Fed are currently undertaking.
It is a prodigious and expensive effort to keep the ship afloat. But in the end, it is less expensive than letting the ship sink.
And, by the way, although there may be some satisfaction in saying that the ship should be allowed to sink because of the negligence of the crew and owners... the fact remains that the passengers will go down with the crew.
"It's not a lie if you believe it." -- George Costanza The whole problem with the world is that fools and fanatics are always so certain of themselves. --Bertrand Russel
