Fascinating new developments

Fascinating. Really. Are you watching this?

News just out this morning: The Fed is extending 100 more billion dollars to the banks come April, to "combat the effects of a credit crisis." You can see the whole article on Yahoo here:

http://news.yahoo.com/s/ap/20080328/ap_on_bi_ge/fed_credit_crisis

First, of course, is the figure of an additional 100 billion dollars, for its sheer size. But there's much more to it than that.

With all these "fixes", most all of them by the Fed, though one of them, at least, proposed months ago by the private banks, is the fact that these huge amounts of money have to be extended, repeatedly, by the bank to the banks. It's extremely large, let's not pretend otherwise.

What that tells us is that the problems are extremely large, naturally. But, at the same time, I think the Fed and the media, both, are doing a magnificent job of not panicking or suggesting that you and I, the average "Joe" on the street, should be concerned in any way.

Let me say again, fascinating.

They need the situations handled and looked after, of course, but the last thing they want to do is create a "panic for the exits". This is a pretty fantastic balancing act. And since the man on the street isn't really paying attention--yet, anyway--it's been successful. If they can just keep up the preemptive solutions--without breaking the national bank--but also keep people from worrying or over-reacting too much or getting emotional or, worst, getting irrational, then they can bring this broken plane in for a landing.

God, I hope it's a soft one.