If the danger to our financial system is as serious as many of our most intelligent and most informed people fear, and if, as we have seen in the past few weeks, our political leaders are not up to the task, could the private sector step up, as as J. P. Morgan famously did in 1907?
Presumably, our ten biggest private equity/ hedge funds, plus our biggest pension plans (CALPERS, etc.), plus groups like TIAA-CREF could raise $200 billion, perhaps much more in a hurry. Moreover, their balance sheets would suffer if the market tanks and if we have a severe recession. Hence it would be in their interest to act.
If we want to show Americans that they need not look to government to solve their problems, what beter time than the present?