[IWE] Would prefer Luisa Tetrazzini to Roubini

[Ashton Brown]

(or even linguini) but Nouriel is what you scope out when the bafflegab 
hits -->| the panicky mobs
(and someone ept slugs the Lehman CIEIO. For a casual start ... )

http://www.rgemonitor.com/roubini-monitor/

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This is indeed a cardiac arrest for the shadow and non-shadow banking 
system and for the system of financing of the corporate sector. The 
shutdown of financing for the corporate system is particularly scary: 
solvent but illiquid corporations that cannot roll over their maturing 
debt may now face massive defaults due to this illiquidity. And if the 
financing of the corporate sectors shuts down and remains shut down the 
risk of an economic collapse similar to the Great Depression becomes 
highly likely.

So what needs to be done? Even several hundreds of billion dollars in 
emergency liquidity support to the financial system by the Fed and other 
central banks in the last week alone have not been enough to stop the 
seizure of liquidity in interbank markets and the shut down of financing 
for the corporate sector as counterparty risk is now extreme (no one 
trusts any more in this crisis of confidence even the most reputable and 
trustworthy financial and corporate counterparties).

Thus, emergency times where we are at risk of a systemic meltdown 
require emergency measures. These include the following six ideas:

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