I like Ted Rall's Plan

[Duncan]

"Americans are peering into the abyss, a.k.a. the End of Everything As We Know It. So whom are we counting upon to save the day? The same Bushist dead enders and Congressional layabouts who let Osama bin Laden live and New Orleans die.

So yeah, we're toast. But let's talk about what should be done:

1. Declare a Bank Holiday. As FDR did in 1933, Bush should shut down the financial system--banks, stock and currency exchanges--for a week or so to avoid panic selling, cool down market volatility, and give Congress time to craft carefully considered legislation rather than the spend-a-thon slapped together over the last Black Weekend. It bodes ill that liberals and conservatives alike have so little faith in the plan. Take some time; get it right."

More: http://www.uexpress.com/tedrall/

[crossroads]

1. Really - not a bad idea imo! nt

[Sarah Ibarruri]

2. THAT is brilliant. But Republicans are NOT brilliant so it's likely this won't be done nt

[Fire Walk With Me]

3. Hmm. Interesting.

[sharesunited]

4. I think the psychological effect of a bank holiday would be to exaggerate panic and dread.

Pent up demand for moving and withdrawing funds and selling holdings bursts like a pustule.

[NV Whino]

5. Not if you have an answer at the end of the bank holiday.

[sendero]

6. I agree..

... there are some good ideas in there, that is not one of them.

[gratuitous]

7. "Take some time"?

But then people might not panic.

[Orrex]

8. These bank holidays...

It's a problem to decide.

[mopinko]

9. sec rules forbid markets to be closed for more than 3 days.

just sayin'.

[ItsTheMediaStupid]

10. Time to change that rule, at least temporarily

These guys haven't had any problem ignoring other rules, like the Geneva Convention and US Constitution.

This one shouldn't be a problem.

[mopinko]

11. i'm sure

quaint old rule, to be sure. just sayin'.

[Mojorabbit]

14. I don't know

it would have to be a good sell to the public. I know I would not like it if I needed some cash and was not able to withdraw it.

[pa28]

12. I like it. I get the feeling as things stand Congress is voting on fear.

When this much money is at stake there should be a real analysis of the costs, benefits and risks. Sorry, I just can't shake the feeling this bailout is not what it Hank Paulson is telling us it is.

I really turned on this when Sen. Gregg said the bailout would not actually solve the problem - just provide time to get the patient to the hospital. Perhaps we need time for a real solution that will solve the problem with a single action if the consequences are, in fact, as dire as they say. Time, thought and the input of people who actually understand the situation (aside from Hank Paulson) are required.

[unblock]

13. banks practically are on holiday anyway

raising the fdic limit is a better way to deter bank runs.

the banks themselves are largely paralyzed.