Paulson may have been suggesting a cash injection into the banks "by the end of October" but I don't see how they can avoid doing this any longer. Take the preferred shares, semi-nationalize them and get the credit moving again. This won't stop the markets from falling but it will help ease the larger credit problem. A few more low-lights from around the world after the massive US sell off.
- Hong Kong down 8.54%
- Tokyo down 9.62%
- Shanghai down 3.57%
And the European markets are opening to pretty hard declines as well.
- London down 6.54%
- Frankfurt down 8.16%
- Paris down 7.54%
