"The conventional wisdom held that the successful passage of the rescue legislation would introduce some stability into the markets. The ink was not dry on the legislation when stocks began to head south again, and in a serious manner. It is beginning to look as though the authorities well need divine intervention to save the day.
My suggestion is that members of the staff at the New York Fed should take some time and trek two blocks south to Our Lady of Victory Church at Pine and William. They should get down on their knees and pray and then light a candle.
That looks like the only viable solution for now."
--John Jansen
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