Bernanke said that federal funds won't be used to bail out banks, but we know that once the shit hits the fan all bets are off. So far the Fed has been offering huge short-term loans, which are properly backed by what's left of these banks' assets. They're not meant to solve anything, but to buy some time.

The next couple of months are going to be very interesting.

In reply to this comment by Farhad2000:
Just wait until the big banks start to roll over and go to the federal government to bail them out, it will be titled something big and patriotic like "Homeland Economy Security Act" but in reality is another case of privatize the profits but socialize the costs.

Thanks!

In reply to this comment by Kreegath:
http://www.videosift.com/video/US-Civil-War-in-4-min

I'm glad to be of service.

Does the science channel get perpetual motion sifts often?

I'd like to see someone claim to extract zero point energy on TV. Magnets and resonance get boring after a while

In reply to this comment by rembar:
Thanks for taking the time to jump up on this sift, I haven't been on VS enough to catch this in time. Feel free to message me whenever you see another perpetual motion sift, or anything of the sort, that needs booting from the channel.

In reply to this comment by flavioribeiro:
This is a textbook case of a bogus free energy claim.

It has the inventor without a scientific background, the engineer with no credentials, zero technical information and a clueless reporter talking about magnets.

I glanced at this guy's patent application, and all he describes is a crude, specific way of controlling a motor in order to alternately operate it as a motor and a generator.

The Australian Skeptics is a group dedicated to investigating claims such as this, and they've investigated Lutec (this inventor's company) in 2001. Here's the executive summary: the people at Lutec don't even know what the physical definition of work is, they didn't properly calculate this device's efficiency and are most likely trying to con small investors into wiring money to an account in Singapore: http://www.skeptics.com.au/journal/2001/3_lutec1.pdf

Thanks!

In reply to this comment by rembar:
I just noticed you got a silver star. I'm guessing it's a little late, but congrats!