A $500 billion loan to the FDIC “begins to approximate the maximum loss from resolving the top four banks.”  – Chris Whalen
"The money will always be there. We can’t run out of money."  – Sheila Bair (UPDATE)
So last Friday Congress suddenly moved to hand Sheila Bair a shiny new half-trillion dollar bazooka. Does this mean a thunderous flash and rending curtains all over the NYSE at the beginning of the next long weekend? A mighty socialized maxi-bank rising from the ashes on the Third Day?
Well, Lent is a time for reflection. To horribly mix metaphors, what are Doomers expecting from all those apprentice Easter Bunnies hopping around inside the Beltway? Is that even the heaviest thing  going down? Tell us what you think. This is the Monday open thread.
——————–: "FDIC Instant $500 Billion Loan Proposed – Fear of Big Bank Falure", by Colin Barr, San Francisco Sentinel, March 6, 2009. : "Subprime Europe", by Liaquat Ahamed, New York Times, March 7, 2009. : "Bair says FDIC has enough money but wants cushion", by John O’Callaghan, Reuters, March 9, 2009.