Op-Ed Columnist - Banking on the Brink - NYTimes.com

Al, of Rant, did call you would blame the stock market on Bush. It's forward looking baby.

Anyway, about this article. For a moment of serious discussion. Part of the suspicion towards stuff like this is the obvious hostility towards stockholders, which I do not understand being that their stock is only valued at $1 per share. Honestly don't get it. Why not just pay off the shareholders and then reissue the stock to solve this issue?

Second, contrasting this with establishing a toxic bank which acquires these assets and cleans the balance sheets.

Lastly, if only 8% of Mortgages have defaulted (as is frequently said), how can this relatively small number affect such a large portion of banks? I smell a rat.