What should they do on Thursday? Nothing! Bad loans need to be renegotiated between the lender and the borrower - period! The alternative is the lender gets what they don't want (repossessed property) because the lender is not in the sell-repossessed-property business - the lender is in the sell-money business.

Renegotiating debt is a standard business practice. So let the practice take care of itself. Doing so will not make the financial industry which has been dumping hundreds of thousands of dollars into politicians' coffers happy at all, because it will cut their profit. Like I care!

Bottom line - you don't get better with $700B in placebos. You just stay ill and come back for another$700B in 6 months.