Banks-rupt; Forestalling Foreclosure; Detroit Doom

It's not a state of the union, but a state of gloom, and Bill Clinton advised Obama to start looking “at the sunny side of the street.” Can he? Should he? What will he say on Tuesday as he gives his first address before a joint session of Congress? Will Bank of America be nationalized? Is closed-door decision making by elites any way to run a democracy? Bob gives us a dissertation on capitalist, socialist and fascist economics. Shall we let the banks go bankrupt but still try to save the auto industry?