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Reply #137: The bailout did not have to be done. [View All]

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OneTenthofOnePercent Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-17-10 10:47 AM
Response to Reply #108
137. The bailout did not have to be done.
For every choice there is consequence. I don't think the bailout was needed.
It's was junt one of a few options chosen to deal with the problem.

Certainly, there would have been grave consequences for failing banks and the economy as a whole.
This would have led to ALOT of social and economic changes. Many people would loose jobs, and many be made homeless.
It would have been very reminicent of the great depression. I do however think that flushing the bad banks and assets would have led to a much speedier recovery after the initial financial/seconomic impact. With healthy business and investment models preserved in the ecomony and the toxic ones flushed, the economy would be poised for healthy regrowth. I think this would have been the right aleit difficult and unpopular course of action. As it stand now, we may not bear the true brunt of the economic meltdown... but even our children's children will be paying for it. That's not right, imo.

It's sort of a would you rather problem.
Would you rather have one splitting migrane for the 1 hr or dull headache for a week?
Yank the band off quickly or slowly peel it away?

I feel getting it over with is the right course of action.
However, the bailout was effective at preserving a minimally functioning economy.
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