Paulson got us here...

Paulson lost his credibility completely. The focus of his mistakes is to let Lehman fall after bailing out Bear, FNM and FRE. What the markets need now is quick, massive measures that come in in surprise… like a 100 bps cut today, etc. It won’t cure the long term fundamentals, but it will stabilize the fear and panic…

Hell, why not push the FFR into negative territory. We’ll actually pay you to take money and lend it.