Government's $700 billion bail out. What it says.

[Aiemond]

akuma587 said:
I think we can all agree that there was a free market failure (illegal and unscrupulous lending activities) and a governmental failure (Fed keeping interests rates too low for too long rather than just fighting inflation, in addition to ludicrous deficit spending which affected interest rates and the strength of the U.S. dollar).

 

Agreed. Sadly though, this bailout is needed. I hate it, it sucks, and its horrrid, but without it, the shit hits the fan even worse. We will be hit with the bill, I grant you, but we'd be hit even harder if not for it. I doubt there will be any tax lowering now, and in fact I support raising taxes with 700 billion more now on the books. this is a bad situation, but atm its not the end of capitalism. I think we missed that.