Dave: On a more serious, and less scatological, note and leaning on your banking background: It appears to me that much of what we’re experiencing in terms of pain is somewhat unnecessary, given the government’s handling of the situation.

I’m not in banking, but applying my experience in accounting and finance, it sure looks like the present Administration is employing half measures when they have better tools and protocols for solving the problem. I would think that the experiences of the Resolution Trust Corporation in resolving the S&L Crisis of the 1980s would be instructive, wouldn’t they?

However, it appears that (to my unpracticed eye) there is considerable concern regarding the “N” word (nationalization) and the dangers that surround it. So, we’re attempting to fix a massive problem by doling out bailout funds in dribs and drabs and not attacking the core issues (fully addressing a complete valuation on a bank by bank basis, along with the potential necessity of breaking up some of these megabanks a la Ma Bell, and undoing the related corrosive political connections inherent to the system).

Why aren’t we handing this entire mess off to a body similar to the RTC and administered by the FDIC? Just curious as to your thoughts on this.