Dow index no longer over 9000;GM shares at 58-year low;WSJ:recession's here

[NJ5]

An informative but quite strange article:

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/14/AR2008101403140.html?hpid=topnews

Parts such as:

Treasury officials were probing deeper into the books of the nation's banks and concluding that there were so many troubled assets that simply using government cash to buy them up -- the strategy Paulson had pitched -- wouldn't be enough to jump-start the markets. The troubled bank Wachovia alone had $312 billion in such assets.

Fantastic how they are making it seem like they didn't know how many such assets there were out there. Seems like either BS or naivety to me.

Or:

If the government makes a $10 billion capital investment in a bank, that bank would be entitled to increase its lending by $100 billion or more.

But if the government were to buy $10 billion in troubled assets, it would free up only $10 billion for lending.

Let's hope they lend that to the right people this time... like someone who can pay it back. This part also made me go WTF in a similar way to the one above.

I just hope they're regulating the banks to ensure this capital injection doesn't make things even worse.