Crap! Looks Like They Are Going With A Full Bail Out.
Now would be an excellent time to buy bullion if what economists have told us about the significance of the national debt is true. We should be having the sort of inflation that made the Baracks Emperors
such a hit in Rome and actually impacted halacha by requiring the Rabbis to regulate currency arbitrage.
(It is actually a rather fascinating topic. The Talmud established a gold standard, the "shekel hakodesh" and regulated which debt instruments could be paid in local currencies, standard currencies, and when arbitrage between Roman and non-Roman currency in debt instruments would be permitted (or, in the words of the Talmud, because the coins of Israel (part of the Roman Empire) were "lighter" than the coins of Babylon, debt instruments sepcifying payment in coin without reference to currency were assumed to be redeamable in the currency of the country of origin. Actually, I have hopes to someday do a work on the Talmud and international trade regulation. The talmud also invented the condominium.)
But to return to the main subject, it would appear that now would be an excellent time to panic. For Congress to go along with this, the situation must be absolutely friggin' grim.
Ooooohhhhh I hope those activists on the D.C. Circuit overturn it! Given how those Fedearlist Society types like Ginsburg go on and on about how awful it was that the Supremes ended the glorious days of Lochner
in the face of political pressure and made the modern administrative state possible, I really
hope we get to have our bellyful of deregulatory nom noms. Bush and his boys set the table, time for them to step up to some heaping helpings of the unregulated market at work.