One problem with that scenario is that, just now, no one particularly wants any new loans, except for homeowners who are financed at >6% and would like to re-finance at <4%, which seems like burning good money to the banks that hold the existing mortgages. And Wall Street is seriously lacking in local constituencies in the 49 states other than New York.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."