that 700bln package is BS. a far more radical approach is needed, could look like this: - declare all existing CDS void, by law - force ALL banks, by law, to start making markets in ABS / CDOs from, e.g. Oct 15 00:00, with fixed spread rules and quote sizes according to the size of the bank (optional: on a newly created exchange) - urge G8 countries to do the same i know this sounds like nonsense. all the current "solutions" floating around are nonsense though.