Eliminating hindsight what would you have done?
Let the dominoes fall. Let the regionals and healthy banks pick the bones clean of the failed ones. Let the market correct. Let the bankruptcy system work.
“Eliminating hindsight what would you have done?”
I don’t need to engage in any sort of thought experiment to do that. I remember very clearly not supporting it at the time (like most people, for various reasons). And I was right. If not for the fact that it would’ve been better without it altogether (we can never know for sue), for the fact that it was a big lie (they didn’t do what they said they were going to do, and perhaps never knew what they wanted to do, just something having to do with lots and lots of money) and it wasted money (can anyone in their right mind say TARP was spent effectively? Who the heck could even measure such a thing?).