Bernanke's, Paulson's, Bair's, and Cox's Banking Crisis Next Step

The Fed, the FDIC, the SEC, and the treasury department are all in panic mode. Here are the key players: Ben "Helicopter Drop" Bernanke is Fed chairman. Sheila Bair, the "Bureaucrat's Bureaucrat", is the FDIC chairman. Henry "Sound Dollar Policy" Paulson is Secretary of the Treasury, and Christopher "Big Squeeze" Cox, Chairman of the SEC, is on a selective campaign against nudity.
Before we get to "What's Next?", here is a short recap of actions taken to date: Bernanke has produced an array of lending facilities (TAF, PDCF, TSLF). Bernanke also likes throwing surprise parties during options execution week. The first was a surprise discount rate cut. A second was a surprise rate cut.

Henry Paulson, who would not know or admit to (take your choice) a strong dollar policy if it bit him in the ass, has stated financial institutions must be allowed to fail only to reverse course a few days later by asking Congress for unlimited funds to bail out Fannie Mae and Freddie Mac.
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