Fail

WASHINGTON – Treasury Secretary Timothy Geithner says the new administration will wage an aggressive two-front battle against the worst financial crisis in seven decades, while the Federal Reserve expands a key lending program to up to $1 trillion.

The efforts are part of the government's major overhaul of the widely criticized financial rescue program.

The Fed says it will expand the size of a key lending program to as much as $1 trillion from $200 billion. The program, which has yet to begin operations, is designed to boost resources for consumer credit and small business loans.

The Fed says the program also is being expanded to cover the troubled commercial real estate market and certain residential mortgages.

Uh.. what about that "stimulus package" that has been debated the last few weeks in the house and Senate? Is this yet another "program"?

They're going to "fix" the housing crises also? Alrighty.. Somebody asked Obama about that during his "town hall" meeting, and what he's proposing is re-inflating the housing bubble. Not gonna happen.

This is starting to become silly. All they need to do is make sure the banks don't default.. and spend a bunch of money on rebuilding American infrastructures... refurbish bridges, roads, build new mass transit in large cities (Dallas needs it desperately), and so on.

This has clearly been a failure of "Capitalism"... where the main point of the system is to get wealthy at all costs, regardless how it's done. Massive fraud and endless greed is the eventual outcome. It's always been that way, but in the Bush era, where regulation was ended, it truly became the Gordon Gekko decade.

Capitalism, as an economic system, works fine when people play by the rules. Those rules have to be defined and rigorously enforced.