Just read this via a twitter I got:

Congressional Panel Suggests Firing Managers, Liquidating Banks

A congressional panel overseeing the U.S. financial rescue suggested that getting rid of top executives and liquidating problem banks may be a better way to solve the economic crisis.

The Congressional Oversight Panel, in a report released yesterday, also said the Treasury may be relying on too rosy an economic scenario to guide its $700 billion bailout, and declared that the success of the program after six months is “mixed.” Three of the group’s members disagreed with at least some of the findings.

So I just got a notice from Capital One saying that:

"at Capital One we are committed to providing valuable customers like you with honest and open communication. Today, we're notifying you that terms of your account are changing."

"Due to the extraordinary changes in the economic environment, we're reviewing our existing credit card accounts. . . . [and] we will be changing your Purchase and Balance Transfer rate. "

After 2010 the rate will go up to 17.9%, and vary by adding 14.65% to the Prime Rate. Then, they are raising my default rate to 29.4%. It may vary monthly and will be determined by adding 26.15% to the Prime rate.

Q: Where did some of these incompetent and corrupt bankers spend their time and the banks' money last year?

• an investment banker from Lehman Brothers who saw "Kelsey and Keely together" and later saw "Aria and Skyler at the same time"
• an investment banker at JP Morgan Securities who "l
  
   Read more…

Online WSJ:

Meanwhile, the Treasury has clarified life insurers are eligible to participate in its capital-infusion program, provided they are or apply to become a federally regulated bank or thrift. A significant number of insurance companies in the U.S. would qualify as they operate banks or thrifts.

Motivations to participate range from strengthening balance sheets to securing a source of money for acquisitions.

If you're Big Money, all you've got to do is fill out an application to turn yourself into a bank, and the Fed will hand you taxpayer dollars! Come on down!

Hey, maybe that's how homeowners could get some help? Apply to become banks?