With the Dow making it’s largest one day point drop in history and lawmakers at an impasse over how to resolve the credit crisis, CNBC’s Steve Liesman worked the phones and came up with some insights for you.
The Bank Club
Liesman says he thinks the Federal Reserve is trying to create a club of elite banks. From what he can tell the guys in the club are JP Morgan , Bank of America , Citigroup, Goldman Sachs and Morgan Stanley . "I think those are five institutions the Fed will liquefy to the bitter end and will not let fail. That’s the line the Fed is drawing around the financial system."