mrstickball on 04 November 2009
Final-Fan:
I don't think anyone, including myself, believe that if we would have let things slide, things would have been fine. We would of had a very rough time of it. However, given the data we've seen even though we helped the banks out, it's unlikely that outcome would have been overall worse.
The problem with the solution we took was that:
- We didn't have the money. We printed the money to give to the banks, which is devaluating our dollar causing inflation (thus hurting everyone)
- The money wasn't used properly. See banker bonuses. I really wonder that of the $700 billion spent, what actually went to salvaging banks that would have went insolvent.
Back from the dead, I'm afraid.
