Onionskins

The CEOs of Merrill Lynch & Citigroup have resigned. BankAm, Citi, & Chase have set up a fund to solve the crisis. Each puts $5B into what is supposed to become a $75B fund. But from what I've heard, various financial institutions have set up over $300B in SIVs to hide their liabilities. And I haven't yet heard that the savings rate in America has even reached positive territory. (Honestly, I think that's the only way to truly solve the problem; these other shenanigans only delay the pain.) I pray to God the government doesn't decide to use my tax dollars to rescue people who spent themselves into ridiculous debt when I'm still scrimping & saving in a studio apt.