Why not cramdowns instead of another bankster rescue?

[Yo_Mama]

11. That's not borrowing from the Fed

Congressional Democrats are asking regulators whether they explored possible risks connected to Bank of America Corp. (BAC)’s moving of derivatives from Merrill Lynch into its deposit-taking unit after a credit downgrade.

BAC moving those derivatives (if there are large losses) from ML to its commercial banking op could carry a potential risk to the FDIC, which ultimately could cause higher costs for taxpayers. Depending on what's in that portfolio, the concern could be well-grounded or theoretical, but even if losses are unlikely the question of whether bank holding companies should be allowed to do this remains a good one.

As for the Fed, the reality is that it isn't lending money to banks. Banks are lending money to it.

Seriously, look at the Fed balance sheet and show me where in its assets these big loans to banks are:
http://www.federalreserve.gov/releases/h41/Current/