Bail-In passes the House and the wheels are in motion

I thought that calling it a bail-out was inappropriate and it should be called the bail-in. Let's hope it doesn't become a habit.

The question remains as to whether giving a whole lot more money to a bunch of guys who don't trust each other enough to lend each other money will actually fix things. It remains to be seen. Let's hope so.

At the very least it should give some institutions an improved capital ratio to start lending again.

Better get to it bankers, unless there's an immediate improvement I don't expect we'll see this course of action again in our lifetimes.

All that remains is for Congress to follow up on the controls required to prevent this sort of runaway fantasy from occuring again.

ps. I know it has to pass in the House but the polls say the Republicans will lose by a landslide if they don't back it and even if they do, they are in trouble.

As we no doubt all expected - it passed. There really was no doubt - many jobs were at stake - starting with Congress.

There better be some lending activity, because bankers face more than losing their jobs.

I changed the title to reflect the outcome, not to confuse anyone.