Bailout Prevents Great Depression 2.0

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mother of alll bailouts evaporates balanced power in the post-US

We are founded on a prinicple where no one branch of government is able to dominate in the republic. Allowing one person, in any capacity anywhere in this republic, to have such bizarre authority would cripple any opposition to that person's will. If not making opposition outright meaningless such power would allow this indivdual to rule de facto by mere manipulations as well as by direct control. Should this person be a puppet of the President his actions would also be backed up by the power of the Commander in Chief. We did not have a Reichstag to burn but Wall Street has served its purpose. Have we become so worthless of liberity that we are willing to give up Freedom to maintain iPods, home theaters, worthless text messages, and Bluetooths? If so, we deserve what is coming if Congress does not act to prevent the ascendancy of Economics over the blood of Freedom. Tyranny of Greed is close upon us all if not rejected and the sacrifice accepted.

Michael C hilldress of NC @ Sep 22, 2008 12:42:20 PM

You've only done half the hypothetical

You've compared the highest possible costs -- well, half the highest and the highest -- of not acting with the lowest possible cost of acting (just the $700 bil). Let's see you cost out acting ($700b to $1tril, depending on estimates) plus the likelihood of more action being necessary, plus the recession that is coming anyway. Then make the comparison.

Dan of NY @ Sep 22, 2008 12:38:25 PM

Big Assumption

The assumption here is that Paulson (and by extension the Bush administration) and $700 billion will fix all problems. Sorry, I don't buy it. Years of winding leverage and the adoption of faulty business models cannot be fixed by throwing (newly printed) money around. Failures and economic contraction are part of the cycle.

js_mcknz of @ Sep 22, 2008 12:16:47 PM

Not so great

It's not our depression. It's the next generation and the one after that and so on that is stuck with this bill.

I'm ashamed of what this country is doing to them without their knowledge or consent.

We were handed a world with all the advantages if we chose to take them. But we're dumping all our debts incurred by colossal mismanagement onto the next.

And the we in our are powerless to do anything about it.

That is the real great depression we should be mad as hell about.

HillbillyBill of TN @ Sep 22, 2008 12:08:23 PM

Not so great

It's not our depression. It's the next generation and the one after that and so on that is stuck with this bill.

I'm ashamed of what this country is doing to them without their knowledge or consent.

We were handed a world with all the advantages if we chose to take them. But we're dumping all our debts incurred by colossal mismanagement onto the next.

And the we in our are powerless to do anything about it.

That is the real great depression we should be mad as hell about.

HillbillyBill of TN @ Sep 22, 2008 12:08:23 PM

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Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

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