“To save time...the bailout was not a left right thing, it was a reasonable (and correct) economic strategy.”
It was bad policy.
When companies make bad choices, they should be forced to face the consequences, just like a mom and pop grocery store.
FURTHER, the precedent was used by his successor for even more egregious violations of the free enterprise system.
A short spell of temporary pain is preferable to decades of misery.
The original bail out, which President Bush was involved with had nothing to do with bad choices by banks...there was a huge run on money market accounts that threatened the global markets with a disaster that most would not understand in it’s depth and severity. He succeeded in preventing that utter collapse.
I watched an interview a while back where the reporter asked President Bush if he had regret for the decision to do the first bail out because the democrats appear to be taking it to the nth degree in taking over rights, etc. He stated that the nation would not allow that...