Yeah, what the heck? I thought that the bailout/rescue, whatever we call it, was supposed to support the market, help the banks lend money again, and put a floor under the market. I don’t know all the ins and outs, but I thought part of the reasoning was to keep the market from crashing. If the market keeps going down, people may well wonder if it was worth investing the $700 billion. Or wonder if the $700 billion will be a down payment on whatever comes next.
And hang on to your hat, and wallet, and go say some prayers, if President Obama is in charge when the next crisis comes along.
No it wasn't. And the voicemails we couldn't leave, the emails that couldn't be delivered, nothing stopped this rape of the taxpayers.
Or wonder if the $700 billion will be a down payment on whatever comes next.
Of course it is. They only nationalized the housing and banking industries. There's still manufacturing, healthcare, and everything else I'm too heartsick to think of, left to go. Bye bye America.
It's tempting to say that the "bailout" is totally pointless, but there are many such instances of financial institutions hanging on by a thread, that have been or will be helped by this. We're in a situation without precedent, and it's huge. Will there be other problems, requiring billions? No doubt there will be. Should we just let it all collapse? I don't think people who advocate such have thought it through. Playing this thing out throught the economy, you'd potentially be looking at problems purchasing and delivering food and fuel due to lack of credit at the wholesale level, which would be devastating.