Hi All,

The Washington Post is now reporting that the Fed and the Treasury are putting together a plan to bail out THE ENTIRE ECONOMY. – No seriously, the times is reporting that the government may be setting up an agency to buy up most of the nations bad debt.

Check it out here.

For what its worth, I’ve been scanning the headlines and I have the impression that nobody in Washington really knows whats going on. There has been so much bad news in such rapid succession that the media is comparing it to the Great Depression. At this point its pretty much up to Fed chairman Bernake and Treasury Secretary Paulson. I’m personally saying a prayer that these guys get it right.

Best,

James

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