"There's also a risk that the curbs on executive pay will cause talented bankers to flee the industry just when their skill is most needed."

Ok that part is funny. The government was worried about keeping these "talented bankers" from leaving their banks (about 2,000 of them in the US and only 6 in Canada). What a load..... that's seems to be the biggest problem right now in the U.S. Too many Chiefs and not enough Indians. Secondly....why is the government not killing the golden parachute clauses that exist in cases where the banks are becoming insolvent. Lets face it...its easy for a bank to fly high when they put no reasonable restrictions on their credit/loan applications. So their profits jump every year without the CEO having to do much of anything but promote. Secondly much of the banking success over the last decade has come from electronic investing methods never before available to the retail and institutional investor. Boom....more big profits.

I think its important to remember something that was happening to Canadian banks over the last 5 years where they were delving into US banking ownership. The banks were "losing" money on the US sector of their business and they finally had to sell the US interests off. That alone tells me the big difference between the two banking systems and the opportunities for financial sector meltdown in the U.S. rather than Canada. Of course we also have to remember there are billions more people residing in the U.S.A. and more banks are likely to evolve. But 2000 / 52 = 38 to 40 banks per state. Seems a bit overzealous and greed orientated IMHO.

Whatever the case....the CEO's of banks that crumble should expect nothing in their Christmas stockings. Personally if its found to be their fault for the unreasonable lending practises of the bank, they should be held responsible. Ooops...forgot usually its a board of overpaid "high end" banking brains that manage to crash the bank....perhaps they should all have their limos taken away from them and be given a mule and cart as replacements. Everyone else will be driving the same if their ridiculous lending habits end up causing a second 1929 crash. Why is it always the ones that create the financial havoc for everyone else get to keep the prize??

Makes no sense....but thats the difference between the upper level management in banks and the average hard working person putting their money into it.

Hope this week brings us out of the doldrums...but I doubt it will be a result of this bailout. At least with the negotiation the bailout isn't as irresponsible as the creditors habits of yore.

Good luck and long on NOT....

God Bless..

Mustangman