Okay, a lil’ refresher, here — for this is off-topic, afterall: if you saw this, and this later one, of mine, over the weekend past — please do consider this comment/addendum (given subsesquently unfolding events) and scratch your head for any consistent message — from last night’s news that an RTC-like solution may well win the day, here:
. . . .“What we are working on now is an approach to deal with systemic risks and stresses in our capital markets,” said Henry M. Paulson Jr., the Treasury secretary. “And we talked about a comprehensive approach that would require legislation to deal with the illiquid assets on financial institutions’ balance sheets,” he added.
One model for the proposal could be the Resolution Trust Corporation, which bought up and eventually sold hundreds of billions of dollars’ worth of real estate in the 1990s from failed savings-and-loan companies. In this case, however, the government is expected to take over only distressed assets, not entire institutions. And it is not clear that a new agency would be created to manage and dispose of the assets, or whether the Federal Reserve or Treasury Department would do so. . . .
Object Lesson: No one is driving this bus. [Or said another way — perhaps, more darkly — pure Presidential Election Year politics just may be.]