Last Friday night I asked if the US has a debt Chandrasekhar Limit, meaning is there a point at which the US will incur so much debt that it will go supernova and explode.

Another bleeder of a day. All seemed "contained" until exactly 3pm when all hell broke loose. I am still trying to get the license plate of that truck that blasted through at 2:59pm! Any guesses out there as to the catalyst or was this just more of the...

You know I have tons of stuff to do but I cannot draw myself away from all the unfolding drama. I feel that adding coverage to this moment is good use of my time and I hope all the loyal readers feel like this site adds value to your information basket.

The basic plan of the FED and treasury has been fairly well fleshed out through analysis, statements by officials, and old fashioned guessing. The basic plan the geniuses came up with was:

The housing bill is as bad a deal as can be. Fannie and Freddie are essentially backed no matter what, and the taxpayer can expect this to come back on them sooner rather than later.