In the long run, it would have been better to let the offending institutions fail, let the markets collapse, and rebuild. The short-term effect would have been massive economic dislocation, meaning Depression-level unemployment, huge financial losses, foreclosures, runs on banks, perhaps even violence.
The hard truth is that those things are still going to happen to some extent, no matter what. As Obama would have it: it's just "math". We just kicked the can down the road. But I'd far rather have a conservative President who understands that reducing taxes, ending regulatory fascism, policing our borders, and encouraging new American industry will help to greatly mitigate the effects of the international banking collapse (that will still happen).
I believe the current regime will use such a "crisis" instead to consolidate their power and control, and to complete their fundamental transformation of America into a liberal social democracy.
I agree. Right now I think Cain is the best candidate and I would be very happy to vote for him. I think he has been underestimated. He’s very smart and has great leadership qualities.
Cain wrote
The taxpayers were robbed again.
There was another alternative plan that did not have a $700 billion price tag and no sweeteners, but House Speaker Nancy Pelosi would not allow it to even be introduced, debated or discussed. The alternative plan was based on unleashing cash stuck in other countries because of income tax rules, and cash stuck in investment capital accounts because of capital gains taxes.
The alternative plan was developed by the Republican Study Committee in the House of Representatives .
Obviously, Speaker Pelosi’s problem with the alternative was that it was a Republican proposal. Surprise, surprise!