I just got this great email from my uncle Chris and thought I'd share it:
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Friends
I am teching a show in Washington DC, for Deloitte ( an Audit, Tax, Consulting & Financial Advisory Services firm) with Alan Greenspan (former chief of the federal reserve under Reagan, Clinton, and both Bush’s) and some of his top associates, talking about the financial turmoil that is happening right now. I am, by no means an expert on any of these issues, so here are some notes and quotes that I just typed as it was going on, FYI: 
*WAMU (Washington Mutual Banks) was taken over by JP Morgan last night. WAMU doesn’t exist anymore.
*There are no more investment banks in New York, any more.
*The 700 billion $$ that the Govt. is asking for can be used to buy bad mortgages, “or ANYTHING ELSE deemed necessary at the time”.
*All current investment and deposit (what you have in the bank today) are protected by the FDIC up to $100,000, but it is not clear yet, that any future deposits (what you put in tomorrow) and investments will be insured AT ALL.
*This industry is going to come under massive govt. regulation.
*SOME GOOD NEWS AND ADVICE: Look into the Treasury Bond market, it has the best Yield curve in the market and is a great indicator for when we are in recovery. The curve is very steep and getting steeper, which signals a potential for mid to long term recovery.
*Even though the rest of the developed world is in a recession, the U.S. Export growth in August was 20%. A good sign.
*”Neither of the present presidential candidates seem to have a very good understanding of Economics!. Obama has flip-flopped on increasing taxes, saying that might be a very bad thing in a recession. That is a good sign that he may be finally getting it.”
*This is more of a capital crisis than a liquidity crisis. Not many more banks will go under.
*The Total hole (losses) caused by this recent wave of failures is between 1 & 2 TRILLION Dollars in losses!!!
*Car loans, credit card limits, consumer credit , basic loans are being pulled back, they will be harder to get with this slow down in lending, which could cause a domino effect in more bank closures. Luckily, our banks have been well funded going into this crisis.
* Don’t be surprised if we see another Fed rate cut.
* Bottom line, Credit will get more expensive over the next year.
*These guys think that the “Polson” plan will calm the markets, but won’t really solve the bigger issues of insolvency in capital. That can only come with time.
* These guy’s personal investment strategies are to invest in many diverse investments: i.e. large cap, small cap, equity and bond, overseas. Don’t focus on the current swings in the market. Stay invested for the long term.
*THE biggest point made was: “ If the $700 billion bail-out plan is not defined by 10 pm Sunday night ( When the Japanese stock market opens) trading and money markets, auction rate securities ARS, commercial paper, short term funding, etc. will most likely be thrown into a major turmoil.” BE AWARE and keep your eye on the financial news!!!! The outlook isn’t that gloomy if our Govt. can come up with a plan BEFORE Monday Morning! “Congress cannot go home until this credit issue is resolved.”
*This crisis will end when the prices of homes stabilizes.
* Greenspan says that the Bailout is a BAD idea, but he believes an intervention needs to be put forth, to solve this credit crisis, and being a "freemarket conservative" he says that when this crisis is over, things will pretty much shake out to normal only with a lot more regulation and much higher credit rates.
* Ultimately his message ws vey positive, that we will get through this in the short term, and that the long term looks as good, if not better, that it ever has! (THANK YOU!!!)

I hope this gives you a little more insight into the current financial wrangling of our Gubberment, at least, according to these guys! Take it all with a  grain of salt and do your own fact checking before making any rash moves with your money or investments!!!

 Christopher
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Thanks Chris! That's great stuff!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com