Easy to cast this as socialist Dems vs. business Reps.
Not the case. Think it through.
‘Socialist’ dems supporting a bailout keeps Wall Street, BofA, et al. afloat. How ‘establishment’.
The mortage mess is HUGE. It has the potential to send us into something worse than the Great Depression if it’s not managed properly. Everyone’s in damage control. They’re reaching for answers. And there are NONE. No easy answers.
See my previous comments about inflation. Nobody calls it a bailout, but that’s exactly what it is, on the sly. Devalue the currency, write down the debt. Everyone ends up poorer except those who borrowed and levered to the MAX. How is that better than a bailout? Where is the discussion of the insidious effects of inflationary policy?
Note: I don’t support a bailout. I don’t support erasing the debt through inflation. I think Greenspan, mortgage brokers and flippers deserve to spend the rest of their lives eating dog food on the banks of the San Diego River for the mess they created (that we’re now collectively trying to deal with).
