Just headlined on Bloomberg News: Italian Prime Minister Silvio Berlusconi said that the idea of maybe closing the world’s stock markets temporarily while they work out the problem and “rewrite the rules of international finance” has been floated. If that sounds bad to you, you’re not alone. But it may be the only way to prevent further spiraling losses in global markets.
Of course, that requires EVERYBODY to agree to it, which in turn requires mustering much more international support than certainly President Bush is capable of. What would it be like to actually have a working president right now?