Not everything we're being told about the credit markets freezing up happens to be quite true. Certainly, the commercial paper market still seems to exist.
On the other hand, if letters of credit become hard to get then we might as well reinstate the Corn Laws.
Worth remembering for those insisting upon "regulation". It's often a spur to those who would do an end run around said regulation. No, really, it is.
Instead of a bail out how about a bail in? Those currently making a mint from the taxpayers share the pain say?
The vagaries of tax law and corporate structure mean that US inequality of income may well be not quite what people think it is.
How much you tax the rich isn't really the same as how much you help the poor.