[sgbuffett]

It is "impossible" for banks to fail once the Fed open discount window.

Now the banks can bring their securities to the window and get cash at par value. This means all the bank losses disappeared overnight.

This guy is talking rubbish.

The risks have shifted to other to other things like recession and earnings recession. Because many company in service sector pay high wages and costs, the earnings hit will come. That is why investors are buying tech stocks with pricing power and have been able to cut costs through layoff. Example is Facebook cutting 10000 workers...stock up 90%