Woulda, shoulda, coulda..
I think you have the idea that Sheila Bair, a government employee, and the FDIC could have quickly comprehended ALL the bizarre derivatives and schemes that the ALL the huge IB banks were involved in and unwound them in a manly manner, for the common good! Taken over the functions of thousands of highly trained, knowledgeable, bank employees.
I think you FORGET that global commerce was at a FULL STOP. NO short term loans, that grease the wheels of global commerce, were being made. NO insurance was being issued on shipping or trucking, so, it wasn't happening!
Gas doesn't just magically APPEAR at the station. Food doesn't just MATERIALIZE on the grocery shelves. Tankers and freight hauling ships were being PARKED in a giant mass off Hong Kong. Trucks weren't rolling, all over the globe.
John is RIGHT. Could it have been done better, in hindsight - SURE! Hindsight is 20-20.
I'd LOVE to see some banksters go DOWN though, and that's all on O's Justice Dept. |
