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Until the communist revolution occurs in China, and the Yuan plummets 
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<Reverend> IRC is just multiplayer notepad.
I like your SNOOPY POSTER! - While you Wait quote. -
Very interesting read, OFITG. Thanks!
"I have as much authority as the pope. I just don't have as many people who believe it." — George CarlinComment
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As I understand it, the NY Insurance bureau is simply trying to arrange recapitalization of municipal bond insurers. They aren't actually putting up any money themselves.
This is a perfectly reasonable thing for them to try to do. Whether or not it will work is another question. It may, at least for a while. But that alone will not necessarily do anything about the larger crisis.VANGUARDComment
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