Well, okay, that's a little presumptuous. But Spot did say a few days ago:
We call all hope, boys and girls, that the Treasury does more than admonish the banks about their new funds, a la Dolly Levi. Or leave it up to the Invisible Hand!
Well, apparently, Treasury is not actually, you know, requiring the banks to lend the money they receive out to thirsty borrowers. Krugman today:
It was good news when Mr. Paulson finally agreed to funnel capital into the banking system in return for partial ownership. But last week Joe Nocera of The Times pointed out a key weakness in the U.S. Treasury’s bank rescue plan: it contains no safeguards against the possibility that banks will simply sit on the money. “Unlike the British government, which is mandating lending requirements in return for capital injections, our government seems afraid to do anything except plead.” And sure enough, the banks seem to be hoarding the cash.
Maybe what we need is an Invisible Foot to give the banks a swift kick in the butt!