All Obama HAS done is to kick the can down the road and undermine his own legitimacy. Bush would have had no problem seizing the authority do do what ever he wanted but he was clueless and chose to let Paulson do whatever he wanted in the interest of GS.

I think that in the next few months we will definitively see the end of an era, and the beginning of a new one.

I too am anticipating another big down leg.  The current situation is so unstable it is almost certain to blow. If Obama then steps up and does the right thing, I will be happy to applaud him at that time. But I expect that he will only take the minimum actions that he can and will do everything to protect the very institutions that have to be destroyed in order for the economy to survive. I am fucking sick and tired of waiting for Obama.  It is turning into Wating for Godot.

 

"It is not necessary to have hope in order to persevere."