Thanks- and here’s the link from yesterday on FR:
http://www.freerepublic.com/focus/f-news/2086601/posts
I’m not well-versed in economics or Wall St business- so I’m quickly trying to gain some understanding.
It’s clear we’re in a crisis. The bailout may be the correct thing to do- but I’m worried by the way I see our leaders REACT.
Let’s go back to Bear-Stearns and forward to Friday. At each juncture we were told if we do this one- it will save us from major economic collapse. Clearly- they are either mis-reading the big picture or outright lying.
The language in the legislation is alarming to me, and it’s hard for me to get past THAT to begin to inform myself about whether or not the bailout is worthwhile.
Lets go back to Bear-Stearns and forward to Friday. At each juncture we were told if we do this one- it will save us from major economic collapse. Clearly- they are either mis-reading the big picture or outright lying.
*******************
I suggest another explanation - contagion. The effectiveness of each step depends on the ability to stop the panic. That is why this needed to be “The Mother of all bailouts.”
Even though this article was from the NYTs, I did find it a useful analysis of what happened up to the bailout on Friday.