The US Government goes "all in"
Lowering interest rates didn't work. Cash infusions didn't work. Bank mergers, bailouts, and takeovers didn't work. More and bigger interest rate cuts, cash infusions, bank mergers, bailouts, and takeovers have still not worked.
So now they are to the point of maxing out the wife's credit card for $700 billion worth of chips, and pushing them all into the pile for one big double-or-nothing bet.
Is anybody else nervous as hell about all this?
If this were an energy-related crisis, I think I'd have a fairly good understanding of it. But the financial system is so shrouded in mystery, I don't even really know what or who I should believe.
I thought this news segment from PBS did a pretty good job of explaining the basics in layman's terms. I still wish I had a grasp of the bigger picture...