While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Alan Greenspan, former Chairman of the Federal Reserve Board of Governors (a Federal agency) that oversees the privately owned Federal Reserve System of (central) Banks, appears before the house oversight committee and says,

       We are in the midst of a once-in-a century credit tsunami.  Central banks and governments are being required to take unprecedented measures·

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       This crisis, however, has turned out to be much broader than anything I could have imagined.  It has morphed from one gripped by liquidity restraints to one in which fears of insolvency are now paramount.  Given the financial damage to date, I cannot see how we can avoid a significant rise in layoffs and unemployment·

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       At a minimum, stabilization of home prices is still many months in the future.  But when it arrives, the market freeze should begin to measurably thaw and frightened investors will take tentative steps towards reengagement with risk. …  The $700 billion Troubled (worth less) Assets Relief Program is adequate to serve that need.

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       [T]hose of us who have looked to the self-interest of lending institutions to protect shareholder’s equity (myself especially) are in a state of shocked disbelief·

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       This crisis will pass, and America will reemerge with a far sounder financial system.

[added 6/6/2021]