I try not to get distracted by the hand puppets.

[QUOTE}In other news, the Feds took over WaMu tonight, the biggest bank failure in American history. They sold it immediately to JPMorgan Chase.

The strength of Bank of America and JPMorgan Chase to take over these companies like WaMu and Merril Lynch works in favor of the idea that we should let these firms fail, and not bail them out.[/QUOTE]

Are there enough companies with the resources of BoA and JPM to absorb all of the WaMu's and ML's?

Plus, the problem isn't simply finding owners for all these failed companies, it's finding the money to get the loans flowing againg. We need liquidity and it has all been sucked out by these mortgate portfolios that don't have a market these days.

I'd like not to have to bail out anyone. On the other hand, I'd like the economy not to collapse. What do you offer as an alternative to the bailout that is likely to work? And please provide some authoritative confirmation that your alternative will work.