[Post Summary]Let my beloved come to his garden...
—Song of Solomon
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Kudos to CNBC and Dylan Ratigan for opening up the dialog on the present financial crisis to include what is increasingly becoming the most obvious solution: a big old do over. Tonight's conversation with Barry Ritholtz just about covers everything written here over the past month.
On one hand it is encouraging to see an honest dealing with derivative securities whose collapsed values are burdening the asset side of bank balance sheets.
Yet who can forget the affected financial institutions largely are among the biggest, most powerful interests whose part in setting the social agenda is of no small consequence? Lord knows, when it comes to getting what you want there are many ways to skin a cat.
So, beware. The risk of some unforeseen event calculated to move cornered special interests out of check seems a growing possibility. The window of opportunity to affect positive change is not likely to remain open long. Political posturing may be a necessary part of doing the People's business, but amidst a bunch of nervous stock and bond holders, a lack of positive action could prove fatal.
—Tom Chechatka
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