The mortgage companies Freddie Mac and Fannie Mae must be nationalized immediately or the deepest depression in history will ensue.

If any other partial measures are taken it will spell total financial disaster.
If not...
The US could become a virtual failed state. UNTHINKABLE? No the unthinkable is only for those who don't think. I know it took Rome a couple generations to fall but the geniuses that took control of our elections, courts and military are far more efficient than the Barbarians.

We warned for 8 years about the harm a neocon administration, with all its favorite agendas, would cause America. We have watched it only partially unfold.

I foretold that the stock market would hit 10,000 and we are 20 points from slipping under 11,000. (the lowest worst case is 5,000.)

I don't intend to sound arrogant but it is urgent to nationalize these two mortgage companies, which are already partially federal, NOW.

It has often been said that the US is far too rich a country to not survive a couple problematic Presidential administrations.
I say we will survive even the worst case scenario but we will survive with the strife of a 1930 depression with the help of a new WPA and no more wars on 3 fronts.

I'm not going to hold my breath for a flood of recent billionaire war profiteers to come to the aid of their country. Those who raped the USA are not likely to help her.

Polemics aside...
There is nothing the Federal Reserve Chairman can do at this point.
A presidential order to nationalize FM&FM is needed.

unless you believe R Sen. Phil Graham, that whining claims of recession in this growing economy is all in the insane minds of liberals.

Nationalizing FM&FM will stop the bleeding and give the patient a fighting chance..

Minutes ago Bush only gave a blurb that he is on top of it.(in a perverse way I suppose he is.)
But he made no assurences for nationalizing them
Both companies are below 50% of their earlier value and dropping.

We now have to trust Bush's economic advisor!!!!!!!!!!!!!

There is probably some Dr. Strangelove genius in the Bush crises room right now saying that we could reverse this financial situation by nuking Iran. :>{