As a nation, we set up a sophisticated system for dealing with companies that failed, banks included. Yet, those that favored trillions in bailouts would have us believe that these systems weren’t equipped to deal with the failures such companies as Bear Stearns and Lehman Brothers. Why not? When Bear Stearns went under our unemployment rate was in the fives, it’s now nearly ten percent. The sort of doomsday scenarios that were floated to justify its bailout are occurring. The only difference is that it took over a year to get there, whereas without it we would have gotten there much faster.
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Just delaying the pain. Exact opposite of the Volker / Reagan approach which was to get the recession over with and move on with better policies after.
Who was Bush told to help?
The fact that the economy has continued it's slow death spiral shows that certain individuals simply skimmed off their cash and are sitting by waiting for the inevitable to occur.
Now that it worked the first time watch for Obama to continue the wealth transfer.