There is money on the sidelines so once there is a sniff of bottom this thing will rise fast and way way before hiring kicks in. At least it seems to have worked that way in the past. There is a new fear out there since the new market players in the past twenty years have never seen a loss as what we have just taken so they will be very skittish but it will take off. if Obama would just take over BOA and Citi and get over it.

NPR being chatty this morning talking about bank nationalization, we could go SOB (state owned banks) or call it the Swedish model. I would go for a Swedish model any day.