From what I've read, the 1990s RTC found it very difficult to price and settle all the bad debt from the Savings & Loans. My guess is the infinitely more complex and exotic debt instruments from the last few years will drive the new RTC crazy. If history is a guide, I guess the original RTC "worked." Then again, it set the stage for the Greenspan put and belief that the Feds will always bail markets out. I'm not surprised by the initial (bullish) reaction, but it's very hard to say what this means in the longer-term.