Time: The Banking Crisis is Over

More Quickly Than It Began, The Banking Crisis Is Over

The Article's Argument, Paraphrased by Me:

• Hank Paulson acted quickly and decisively to buy Congress time to guarantee parts of the balance sheets of Citigroup and Bank of America.
• Tim Geithner has been able to rescue dying banks by buying up their toxic/troubled assets through a public-private partnership.
• The "stress test" has told us which banks "have dysentery" and which did not lose at Oregon Trail.
• Wells Fargo reports turning a $3 billion profit in the first quarter, even though it bought Wachovia. This is indicative of a larger trend.
• Further purchase of toxic assets and investigations of banks' balance sheets will be unnecessary. You see, banks are now earning enough from their loans to cover costs, so everything is okay.
• All that's left now is a slow cleanup--the downward spiral is at an end. The cost to taxpayers will probably end up being around $1,000,000,000,000--but that's just what it took to get the job done.
  
• In the aftermath, financial institutions will have "modest power and a regulated scope."

As a well-written piece in a reputable publication, this work deserves an analysis of equal depth and quality. As such, here are my thoughts:

Ha haha ha hahaha haha ha ha ha haha haha ha hahahaha hahahaha *gasp* ha ha haha ha hahaha ha ha haha ha hahaha ha ha haha haha hahaha ha ha ha hahaha ha hahahahaha *gasp* ha ha ha ha haha hahahahahahaha ha haha ha hahaha haha ha ha ha haha haha ha hahahaha hahahaha *gasp* ha ha haha ha hahaha ha ha haha ha hahaha ha ha haha haha hahaha ha ha ha hahaha ha hahahahaha *gasp* ha ha ha ha haha hahahahahahaha ha *snicker* ha ha ha hahahaha ha haha hahahaha ha ha haha ha hahaha ha ha haha haha hahaha ha ha ha hahaha ha hahahahaha *gasp* ha ha ha ha haha hahahahahahaha ha haha ha hahaha haha ha.

Ha ha.

Wooooooooooooo boy.