All of these efforts sound nice and fuzzy, but they don’t address the ultimate bagholders though. Unless the investors in the MBAs, CDOs, CDSs can be made whole, then who holds the bag??? The pension funds? The taxpayers??? You better hope not, because that means hyperinflation and hyperinflation means end of the current political system. I just don’t think people on this site and drawing conclusions far enough into the reality what’s happening a global monetary scale. The Fed doesn’t give a crap about your San Diego house prices at the end of the day.