I wonder how the election would have turned out if McCain simply adopted the will of the people and voted against the bailout.
He would have had a point and could have drove it right into Obama’s heart.
Well, if McCain could have talked up the Dow Jones up to 12,000 or higher, I am sure he would have won, hands down.
The mood of too many people in the country was that government can help.
The bailout was a bad plan. There could have been money appropriated to support good banks and also rules changes on valuing assets, write downs, etc..
Until the bad assets are off the books and people take their lumps there can be no bottom.