Bear Sterns (non-bank) shareholders are getting special protection
from the credit crunch... when there are millions of shareholders in
hundreds of other non-bank lenders who have already taken the hit
personally themselves.

Who is and who isn't ging to benefit/hurt from goverment
interfearance?  This selective myopia does not insure long term
stability and functioning of the markets... it just more
uncertainty!

The Fed/Treasury should be issuing debt and buying the MBS to create a
stable floor for in the secondary market!... problem solved... in a
manner that is simple and equitable to everyone, banks, dealers, non-
banks, and shareholders.

What is Up and what is Down?