letitfly,

This administration, and especially Bernanke, will supply liquidity at any future inflation cost to avoid another credit debacle. Regarding that I have no doubts; whether they are successful, that is the big issue. But unless a juniors collapse is already baked into the cake, it is better that they, albeit inadvertantly, are on our side.

Of course, I'm not objective about the desired outcome. But we would find out, once and for all, whether the old adage "don't fight the Fed" is still valid.