*SCALPSWINGSTRADDLE*

[cal_pn]

Absolutely, the system has been saved at a very critical point of time. I agree.

However, what they have effectively done is only buying some more time until all this debt must be finally paid off.

The system almost collapsed under all this debt and the governemnt effectively refinanced this ocean of private and corporate debt by federal debt for the moment.

However, it is not paid off yet and the ugly thing is that the ordinary citizen is paying for it by losing his job now and paying higher taxes for years although most of the ordinary citizens have not been directly responsible for this mess. Those (Wall Street) who caused it were bailed out and get even richer right now.

Possibly temporary nationalization of banks would have been the better and quicker approach for the real economy and the tax payer. In the past Japan required almost a decade to recover from a similar national crisis of the finacial system by leaving the banks essentially untouched. So it still not clear right now if we will completely recover soon from this mess. Recovery of the banks is only the first part of the whole solution.