Quote:
Originally Posted by scottwww
Bailout Could Deepen Crisis, CBO Chief Says
Orszag offered alternatives, such as equity injections into particularly troubled companies, but allowed that those could lead to further problems, as well. In the end, he said, Congress must pass some sort of relief, if only because Wall Street is expecting it.
"If we did nothing, there is a significant risk of another collapse of confidence in the financial markets," he said.
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ie
something needs to be done - it's the form that needs work. Just quietly, the last time we had a major collapse of the financial markets economy, 1929-31, it did not bode well for Main St. Simply because the financial economy provides the life's blood to the broader economy, capital and liquidity.
And this needs to be about the economy - not about pushing one's own political party / ideaology: there's another forum here specifically for politics ...
The politics
across the spectrum gets in the way of pragmatic solutions.